2. The following table shows employment data from the BLS for September 2012. Showyour work.Civilian, over 16 years of age, non-institutionalized populationEmployedUnemployeda. Calculate the Labor Forceb. Calculate the Unemployment Ratec. Calculate the Labor Force Participation Ratea. Calculate the number of people in the Labor Force:3. Use the data below to answer the questions. Show your work.Labor force participation ratePopulation (assume everyone is over 16 years of age, civilian, non-institutionalized inthis economy)Unemployment rateb. Calculate the number of people Unemployed:210 millionc. Calculate the number of people Employed:140 million20 million60%150 million5%

The labor force refers to the total number of people who are employed or seeking employment in a…

2. The following table shows employment data from the BLS for September 2012. Show your work. Civilian, over 16 years of age, non-institutionalized population Employed Unemployed a. Calculate the Labor Force b. Calculate the Unemployment Rate c. Calculate the Labor Force Participation Rate 210 million 140 million 20 million

2. The following table shows employment data from the BLS for September 2012. Show your work. Civilian, over 16 years of age, non-institutionalized population Employed Unemployed a. Calculate the Labor Force b. Calculate the Unemployment Rate c. Calculate the Labor Force Participation Rate 210 million 140 million 20 million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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The country of Bada has collected the following information: Population (working age). 240,000 Employed 180,000 Unemployed 30,000 Calculate: Labor Force = Unemployment rate = Labor-force participation rate = Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force. . Scott has a Ph.D. He worked full-time but doesn't like his job as a dishwasher. He has applied for jobs with three companies and five universities. As soon as he gets an offer, he'll quit his current job.
3. Calculate items A, B, and C in the table below. Employment Status August 2020 Civilian noninstitutional populationt 260,558 160,838 Civilian labor force Participation rate Employed Employment-population ratio Unemployed Unemployment rate A 147,288 56.5% Not in labor force 99,720 All numbers in Thousands. Source: Bureau of Labor Statistics. †The number of persons who in principle could work.
20. The economy is fully employed when there is no: cyclical unemployment seasonal unemployment structural unemployment frictional unemployment
Decoding 'Natural' Rate of Unemployment Unemployment is a normal feature of our economy and the Congressional Budget Office believes the "natural" unemployment rate increased from 5 percent in 2007 to 6 percent in 2012. Source: Wall Street Journal, September 7, 2012 Provide some reasons why the natural unemployment rate might have increased. The natural unemployment rate might have increased because of A. an increase in the minimum wage and an increase in the number of firms paying an efficiency wage B. an increase in cyclical unemployment during the 2008-2009 recession C. fewer people receiving unemployment benefits D. a decrease in frictional and structural unemployment
How is the unemployment rate calculated? Describe the three principal types of unemployment.
Suppose th ent prium wage in a certain labor market is $18 per hour. Michelle is curren not employed, but seeking work in that same market and willing to work for $18 per hour. After 5 weeks of searching, Michelle still has not found a job. What would economists say about Michelle's situation? Select the correct answer below: Michelle is involuntarily unemployed. Michelle is voluntarily unemployed. Michelle is not in the labor force. Michelle's situation is an example of frictional unemployment. FEEDBACK
Population Employed Structurally Unemployed Frictionally Unemployed Cyclically Unemployed 1,500,000 750,000 25,000 25,000 50,000 1,000,000 Non-institutionalized Adults 22. Using the table above calculate the unemployment rate а. 5.6% b. 6.5% C. 7.1% d. 9.8% e. 11.8% 23. Using the table above calculate the labor force participation rate a. 60% b. 70% C. 80% d. 90% е. 100% 24. The amount of output that is not captured in the production function is considered a. unreconcilable b. total factor productivity
The table gives information reported by the Bureau of Labor Statistics for February, 2013. What is the labor force participation rate? The labor force participation rate is >>> Answer to 1 decimal place. percent. C Item Employment Unemployment Not in the labor force Millions 143 12 90
A6
Use the table data below about this economy to answer the questions that follow regarding employment/unemployment. Show all calculations. Group Relevant population ?? Not in labor force 85 Labor Number in Millions Employed Unemployed 245 ?? 25 1. What is the relevant population in this economy? 1. How many people are employed in this economy? 1. Calculate the unemployment rate.
Complete the following table: Column1 Column2 Employment 160,528,000.00 Unemployment Unemployment Rate U3 4.1% Labor Force Labor Force participation rate 64.1% Civilian Population Employment/Population ratio
Numbers of people took survey 58 number reporting at least one hour per week of paid employment 22 number working less than 30hours 7 Number of people working 30 or more hours 15 number not working but actively seeking for work 8 number of not working and not looking for work who are student 30 homemakers 1 other 5 1) what is the number of employed? 2) what is the number of unemployed? 3) what is the labor force? 4)what is the unemployment rate%? 5) why might an individual have characterized themself unemployment when in fact they is not actively seeking for a job? 6)why might an individual be counted as not in labor force when that person might actually want a job?