4. The following data is from the Bureau of Labor Statistics (BLS). (https://data.bls.gov/timeseries/LNS14000000)CategoryCivilian noninstitutional populationCivilian labor forceParticipation rateEmployedEmployment-population ratioUnemployedNot in labor forceMay2022263,679164,37662.3158,42660.15,95099,302a. Calculate the unemployment rate for May 2022. (show your work)Use the Bureau of Labor Statistics Website, to answer the next two questions (b and c). Lookingat the last 10 years of data:b. What was the rate, month and year for the highest unemployment rate?c. What was the rate, month and year for the lowest unemployment rate?

a) Unemployment rate can be calculated as Number of people unemployed / labor force. b) By going…

a. Calculate the unemployment rate for May 2022. (show your work) Use the Bureau of Labor Statistics Website, to answer the next two questions (b and c). Looking at the last 10 years of data: b. What was the rate, month and year for the highest unemployment rate? c. What was the rate, month and year for the lowest unemployment rate?

a. Calculate the unemployment rate for May 2022. (show your work) Use the Bureau of Labor Statistics Website, to answer the next two questions (b and c). Looking at the last 10 years of data: b. What was the rate, month and year for the highest unemployment rate? c. What was the rate, month and year for the lowest unemployment rate?

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question 5. Unemployment (a) A country labor force is 18. There are 8 children, 1 active duty servicemember, and 9 retirees over age 67. The labor force participation rate is 58%. Find the country's population. Show work. (b) In the country from (b), in addition to the 8+1+9 people, 4 more don't have jobs. Of the four, two are looking. Find the country's unemployment rate. (c) A country is undergoing a jobless recovery and one person falls victims to it. The country's labor supply indicators pick it up: both the unemployment rate and the labor force participation drop. Determine if the person is discouraged from job searching or is underemployed. Motivate your answer using the labor supply categories. Be concise and to the point.
Use the data below that describes a nation’s population to answer the following questions: a) How many people are unemployed each year? b) How many people are employed each year? c) What impact would a recession have on the full-employment rate of unemployment of 4.0%? Year 1 Year 2 Population 330 million 335 million Labor Force 170 million 175 million Unemployment rate 7 percent 6 percent
If the number of employed people equals 185 million, the number of unemployed people equals 15 million, and the number of people in the population aged 16 and older equals 210 million, then a. the unemployment rate equals 7.14% and the labor force participation rate equals 95.2%. a. the unemployment rate equals 7.23% and the labor force participation rate equals 85.7%. a. the unemployment rate equals 7.5% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%. a. the unemployment rate equals 7.7% and the labor force participation rate equals 92.9%.
Q3 The relationship between inflation and unemployment is___ Select one: a. the Higher the inflation, the lower unemployment rate b. they are not related c. the higher the inflation, the higher the unemployment rate d. a lot is affected so it is difficult to say
The following graph shows the combinations of unemployment and inflation that existed in the United States from 1961 through 1969. NFLATION RATE (Percent) 5.0 4.5 4.0 3.5 2.5 2.0 1.5 1.0 0.5 0 3.0 * 3.5 69 68 ++ 67 66 *65 5.5, 1.4 64 + 62 + 5.0 + 63 4.0 4.5 5.5 6.0 UNEMPLOYMENT RATE (Percent) 61 + 6.5 7.0
Analyze the unemployment rate between country A and b Country A data Year Unemployment Rate (%) Annual Change 2021 8.50% 2.37% 2020 6.13% -0.23% 2019 6.36% 0.50% 2018 5.86% 0.03% 2017 5.83% -1.45% 2016 7.28% -0.33% 2015 7.61% 0.89% 2014 6.72% -0.63% 2013 7.35% 0.63% 2012 6.72% 0.63% 2011 6.09% 0.88% 2010 5.21% -0.26% 2009 5.47% 0.71% 2008 4.76% -0.40% 2007 5.16% -0.49% 2006 5.65% -0.94% 2005 6.59% 0.29% 2004 6.30% -0.64% 2003 6.94% 0.16% 2002 6.78% -0.48% 2001 7.26% 0.83% 2000 6.43% 0.04% Country B data Year Unemployment Rate (%) Annual Change 2021 10.41% 0.04% 2020 10.38% 1.97% 2019 8.41% 0.09% 2018 8.32% -0.30% 2017 8.62% 0.37% 2016 8.25% -1.55% 2015 9.80% -2.37% 2014 12.17% 0.62% 2013 11.55% -0.04% 2012 11.59% 0.40% 2011 11.19% 0.50% 2010 10.69% 0.67% 2009 10.02% 1.90% 2008 8.12% 0.71% 2007 7.41% -1.32% 2006 8.73% -0.35% 2005 9.08% -0.49% 2004 9.57% -1.43% 2003 11.00% 0.68% 2002 10.32%…
Assume the following described the population in The Bahamas when the unemployment survey was conducted in June 2019. i. There were 100,000 full-time workers and 50,000 part-time workers who prefer full-time work. ii. 15,000 persons were actively looking for work and not working. iii. 10,000 full-time college students iv. 5,400 adults not looking for work. v. 3,000 discouraged workers. a. Calculate the official unemployment rate. b. Suppose 3,000 persons, because of positive economic news, started actively looking for work of which 1,000 found jobs. At the same time, 2000 new high school graduate enter the labor force. What impact will this have on the unemployment rate? c. What are the factors that make it hard to determine the unemployment? rate?. Multi Line Text.
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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.
You are given the following information for a country: population of working age 6 million; labour force 4 million; and employed 3.5 million. Based on this information, which of the following is correct? a. There are 2.5 million unemployed in this country. b. The unemployment rate is approximately 8%. c. The employment rate is approximately 88%. d. The participation rate is approximately 67%.
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?
Macroeconomics For a country in a given year, it applies that (the figures are given in thousands) The population of working age (15-74 years) 21 540 The labor force 15 510 Eemployed 13 959 What is the relative unemployment rate. Give the answer in percent rounded to one decimal.