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 6.6million 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.Civilian noninstitutional populationCivilian labor forceParticipation rateEmployedEmployment-population ratioUnemployedOfficial unemployment rateUnemployed 15 weeks or moreU-1 labor underutilizationDiscouraged workersU-4 labor underutilizationNovember20162017254,540 255,949159,457161,32762.6%152,04859.7%7,4094.6%2,9291.8%5,8378.0%153,9186,610%2,514%%5,238%%The following list shows you how to compute the statistics most commonly used to indicate the health of an economy: Based on the numbers in the previous table, indicate whether each of the following statements accurately describes the differences in the employmentsituation between November 2016 and November 2017.StatementA smaller number of jobless people who wanted a job and were available to work had given up on their job search in November2017 compared to November 2016.The typical unemployed worker in November 2017 was more likely to have been unemployed for 15 weeks or more than thetypical unemployed worker in November 2016.A smaller fraction of the civilian noninstitutional population was in the labor force in November 2017 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.In November 2017, a larger fraction of the civilian noninstitutional population was employed than in November 2016.True FalseThe official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy.Excluding discouraged workers from the official unemployment rate may cause the official rate tounderemployment.the true extent ofOOO

Participiation rate = (Labor force/Population) × 100 = (161,327/255,949) × 100 = 63.03% Employment…

4. Key employment indicators from the household survey The 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. Civilian noninstitutional population Civilian labor force Participation rate Employed Employment-population ratio Unemployed Official unemployment rate Unemployed 15 weeks or more U-1 labor underutilization Discouraged workers U-4 labor underutilization November 2016 2017 254,540 255,949 159,457 161,327 62.6% 152,048 59.7% 7,409 4.6% 2,929 1.8% 5,837 8.0% 153,918 6,610 2,514 % 5,238 % % % % The following list shows you how to compute the statistics most commonly used to indicate the health of an economy:

4. Key employment indicators from the household survey The 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. Civilian noninstitutional population Civilian labor force Participation rate Employed Employment-population ratio Unemployed Official unemployment rate Unemployed 15 weeks or more U-1 labor underutilization Discouraged workers U-4 labor underutilization November 2016 2017 254,540 255,949 159,457 161,327 62.6% 152,048 59.7% 7,409 4.6% 2,929 1.8% 5,837 8.0% 153,918 6,610 2,514 % 5,238 % % % % The following list shows you how to compute the statistics most commonly used to indicate the health of an economy:

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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January 2016 January 2015 Washington 3,588,100 209,900 3,521,200 202,700 Resident labor force Unemployed Seattle/Bellevue/Everett Resident labor force 1,594,600 81,400 1,569,800 69,900 Unemployed
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