4. Key employment indicators from the household surveyThe Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the employment picture for the entire population. Once the adjustment is made, the BLS uses the figures to generate key employment indicators.The following table presents information from the household surveys conducted for November 2017 and, for purposes of comparison, November 2016. The numbers in the table are listed in thousands. For example, the number of unemployed in the table for November 2017 indicates that about 6.6 million people were unemployed at that time.*Use the information lists that follow the table to help you fill in the missing values in the table.*| November | 2016 | 2017 || -------------------------------------- | ------ | ------ || Civilian noninstitutional population | 254,540 | 255,949 || Civilian labor force | 159,457 | 161,327 || Participation rate | 62.6% | || Employed | 152,048 | 153,918 || Employment–population ratio | 59.7% | || Unemployed | 7,409 | 6,610 || Official unemployment rate | 4.6% | || Unemployed 15 weeks or more | 2,929 | 2,514 || U-1 labor underutilization | 1.8% | || Discouraged workers | 5,837 | 5,238 || U-4 labor underutilization | 8.0% | | Based on the numbers in the previous table, indicate whether each of the following statements accurately describes the differences in the employment situation between November 2016 and November 2017.| Statement | True | False ||---------------------------------------------------------------------------------------------------------------------------------------------|------|-------|| A smaller fraction of the civilian noninstitutional population was in the labor force in November 2017 than in November 2016. | | || In November 2017, a larger fraction of the civilian noninstitutional population was employed than in November 2016. | | || The U-1 and U-4 measures of labor underutilization were lower in November 2017 than they were in November 2016. | | || A smaller number of jobless people who wanted a job and were available to work had given up on their job search in November 2017 compared to November 2016. | | || The typical unemployed worker in November 2017 was more likely to have been unemployed for 15 weeks or more than the typical unemployed worker in November 2016. | | |The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy.If the Bureau of Labor Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate would _______.

1) Participation Rate:- Participation Rate=Civilian Labor ForceCivilian noninstitutional…

Answered: 4. Key employment indicators from the…

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

Consider a fictional price index, the University Student Price Index (USPI), based on a typical university student's annual purchases. Suppose the following table shows information on the market basket for the USPI and the prices of each of the goods in 2016, 2017, and 2018. The cost of each item in the basket and the total cost of the basket are shown for 2016. Perform these same calculations for 2017 and 2018, and enter the results in the following table. 2016 2017 2018 Price (Dollars) Cost (Dollars) Price (Dollars) Cost (Dollars) Quantity in Basket Notebooks 10 3 30 3 Calculators 1 75 75 80 Large coffees 300 2 600 2 Energy drinks 75 2 150 4 Textbooks 8 90 720 110 Total cost 1,575 100 Price index Suppose the base year for this price index is 2016. In the last row of the table, calculate and enter the value of the USPI for the remaining years. Between 2016 and 2017, the USPI increased by %. Between 2017 and 2018, the USPI increased by % Which of the following, if true, would…
This question requires effective research to gather pertinent labor market statistics. Consider the source of your data. Official labor market statistics are gathered into “jobs reports” by the United States federal governmental agency: the Bureau of Labor Statistics or BLS. (6 points.)a. Find the following statistics on employment in January, 2022:Unemployment rate: Labor Force Participation Rate: Employed population: c. Find the changes in each statistics from January, 2021 to January, 2022:Unemployment rate: Labor Force Participation Rate: Employed population: d. Find the changes in each statistics from January, 2010 to January, 2011:Unemployment rate: Labor Force Participation Rate: Employed population: e. Briefly compare the severity of the two recoveries citing relevant statistics.
Suppose that New Zombie has adopted the framework used by the US Bureau of Labor Statistics to calculate its labor force statistics. Following information is extracted from a database maintained by the country's ministry of labor: See attached for table. Question 1 Calculate the unemployment rate and the labor force of New Zombie. Show your calculation. (See next page for the formula and directions for this problem). To calculate the unemployment rate you have to use the formula: Unemployment rate = # of unemployed ÷ labor force × 100% The BLS is the Bureau of Labor Statistics, an agency within the Department of Labor. The unemployment rate is calculated by taking a random survey of 60,000 households nationwide. (Note: Households are in the survey for four months, out for eight, back in for four, and then out for good. Interviewers use the phone or home visits using laptops.) The population is divided into three groups: Group 1 consists of those under age 16 or institutionalized.…
The table below presents a brief summary of City Y’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 Interpret what the two spending-to-GDP ratios tell us about City Y’s spending trend. Assuming City Y’s population grows at a constant rate in the next decade. Based on the information in the table, estimate City Y’s population in 2030.
The following table contains unemployment statistics from 2013 for three different countries: Australia, the Netherlands, and France. (Source: “International Labor Comparisons.”Bureau of Labor Statistics) Fill in the table using the given data. Country Working-Age (Civilian Not in Civilian Employed Unemployed Unemployment Non-institutionalized) the Labor Force Labor Force (Thousands) (Thousands) Rate Population (Thousands) (Thousands) (Percent) (Thousands) Australia 18,332 6,196 12,136 11,501 635 Netherlands 13,629 4,796 8,364 469 France 22,411 25,547 2,824
The table below presents actual household data collected by the BLS for September 2018 and September 2019 ( It is attached) Please show me how you got the answer. Use the information in the table above to compute the numerical values for the following categories, for Sept. 18 and Sept. 19 ( Make sure to also Provide the equation or formula you used to calculate each category) Sept. 2019 Sept. 2020 Population Labor force Participation rate Employment-population ratio Unemployment rate
Assuming that a household in Hadililand consumes only apple juice and T-shirts. Last year, which was the base year, the household spent $440 on juice and $132 on shorts. In the base year, juice was $2.2 a bottle and shorts were $11 a pair. This year, juice is $3.3 a bottle, shorts are $13.2 a pair, and a typical household has bought 198 bottles of juice and 15 pairs of shorts. a) What is the basket used in the CPI? b) Calculate the CPI in the current year. c) Calculate the inflation rate in the current year. d) Is the inflation rate that you've calculated likely to be biased? Why or why not?
The table below presents a brief summary of City A’s total spending, local GDP, and population changes. Read the table and answer the following questions. 2010 2020 Total spending ($ million) 89 104.12 Local GDP ($ millions) 110 134 Population 50,000 56,275 CPI deflators (2012=1) 0.96 1.05 Calculate per capita spending in 2010 and 2020, respectively, using constant dollars. *Results round to the nearest dollar. 2010 per capita spending: 2020 per capita spending: 2. Calculate the compound annual growth rate of per capita spending from 2010 to 2020 3. Calculate spending-to-GDP ratios in 2010 and 2020, respectively. *Results round to the nearest 2 decimal places. 2010 spending-to-GDP ratio: 2020 spending-to-GDP ratio: Interpret what the two spending-to-GDP ratios tell us about City A’s spending trend. 4. Assuming City A’s population grows at a constant rate in the next decade.…

Recommended textbooks for you

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

ENGR.ECONOMIC ANALYSIS

Economics

ISBN:

9780190931919

Author:

NEWNAN

Publisher:

Oxford University Press

Principles of Economics (12th Edition)

Economics

ISBN:

9780134078779

Author:

Karl E. Case, Ray C. Fair, Sharon E. Oster

Publisher:

PEARSON

Engineering Economy (17th Edition)

Economics

ISBN:

9780134870069

Author:

William G. Sullivan, Elin M. Wicks, C. Patrick Koelling

Publisher:

PEARSON

Principles of Economics (MindTap Course List)

Economics

ISBN:

9781305585126

Author:

N. Gregory Mankiw

Publisher:

Cengage Learning

Managerial Economics: A Problem Solving Approach

Economics

ISBN:

9781337106665

Author:

Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor

Publisher:

Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…

Economics

ISBN:

9781259290619

Author:

Michael Baye, Jeff Prince

Publisher:

McGraw-Hill Education

SEE MORE TEXTBOOKS