5.1 Study Plan Problem 2 (algo) Question Help The table gives information about the labour market in May 2017 in the economy of Sandy Island. Labour Market Data Number In May 2017 Calculate for May 2017 a. The unemployment rate b. The employment rate Employed Unemployed 20,000 1,000 And calculate for the end of June 2017 Not in labour force 3,000 c. The number of people unemployed, the number employed, and the unemployment rate During June 2017 Lost jobs and didn't look for new jobs 80 >>> Answer to 1 decimal place. Quit jobs and retired 30 In May 2017: Unemployed who were hired 150 Left the labour force 50 The unemployment rate is percent. Entered the labour force to look for work 50
5.1 Study Plan Problem 2 (algo) Question Help The table gives information about the labour market in May 2017 in the economy of Sandy Island. Labour Market Data Number In May 2017 Calculate for May 2017 a. The unemployment rate b. The employment rate Employed Unemployed 20,000 1,000 And calculate for the end of June 2017 Not in labour force 3,000 c. The number of people unemployed, the number employed, and the unemployment rate During June 2017 Lost jobs and didn't look for new jobs 80 >>> Answer to 1 decimal place. Quit jobs and retired 30 In May 2017: Unemployed who were hired 150 Left the labour force 50 The unemployment rate is percent. Entered the labour force to look for work 50
Chapter1: Making Economics Decisions
Section: Chapter Questions
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![5.1 Study Plan Problem 2 (algo)
Question Help
The table gives information about the labour market in May 2017 in the economy
of Sandy Island.
Labour Market Data
Number
In May 2017
Calculate for May 2017
a. The unemployment rate
b. The employment rate
Employed
20,000
Unemployed
1,000
And calculate for the end of June 2017
Not in labour force
3,000
c. The number of people unemployed, the number employed, and the
unemployment rate
During June 2017
Lost jobs and didn't look for new jobs
80
>>> Answer to 1 decimal place.
Quit jobs and retired
Unemployed who were hired
30
In May 2017:
150
Left the labour force
50
The unemployment rate is
percent.
Entered the labour force to look for work
50](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fa464b96e-4a38-4338-852c-2480fbea1467%2Fb751c9c1-4cbe-4691-ac8f-156d76501ac2%2F4rpoo7a_processed.png&w=3840&q=75)
Transcribed Image Text:5.1 Study Plan Problem 2 (algo)
Question Help
The table gives information about the labour market in May 2017 in the economy
of Sandy Island.
Labour Market Data
Number
In May 2017
Calculate for May 2017
a. The unemployment rate
b. The employment rate
Employed
20,000
Unemployed
1,000
And calculate for the end of June 2017
Not in labour force
3,000
c. The number of people unemployed, the number employed, and the
unemployment rate
During June 2017
Lost jobs and didn't look for new jobs
80
>>> Answer to 1 decimal place.
Quit jobs and retired
Unemployed who were hired
30
In May 2017:
150
Left the labour force
50
The unemployment rate is
percent.
Entered the labour force to look for work
50
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