Standards for Employment Data: Is the Economy Healthy?

Standard: 15

Name: Inflation

Inflation is an increase in the average price level. Inflation, both expected and unexpected, imposes costs and benefits on individuals and the overall economy.

• K-5: Elementary school students learn that prices change.
• 6-8: Middle school students learn that inflation is an increase in prices, and that price indices, such as the Consumer Price Index (CPI), are used to calculate the inflation rate and how inflation impacts the purchasing power of money.
• 9-12: At the high school level, students learn how inflation impacts the purchasing power of income. In addition, some of the causes of inflation are introduced as well as the adverse effects of expected and unexpected inflation.Benchmark Students will know that: Students will use this knowledge to: 15.E.1 The prices of goods and services can increase or decrease over time.Explain why candy is more expensive now than it was 50 years ago.E: ELEMENTARY STUDENTS

Standard: 12

Name: Unemployment

Unemployment is when a person is looking for work and cannot find it. Unemployment imposes costs on individuals and the overall economy. Unemployment increases during recessions and decreases during periods of recovery.

• K-5: Elementary school students learn that adults sometimes cannot find jobs.
• 6-8: Middle school students learn how the unemployment rate is calculated.
• 9-12: High school students learn the limitations of the unemployment rate. They also learn some of the potential reasons for unemployment and why the unemployment rate will never be zero.Benchmark Students will know that: Students will use this knowledge to: 12.E.1 Unemployment exists when adults who are looking for work cannot find jobs.Explain why a new college graduate that has not gotten a job is unemployed, but a retired person is not unemployed.E: ELEMENTARY STUDENTS