Below is a table with US labour market data (in thousands): 1998 Working-age population 205, 220 Population 276, 154 6, 204 Unemployed Employed 131,464 2008 233, 788 304, 543 8,948 145, 363 2018 257, 791 327, 436 6, 306 155, 761 a) Caculate the labour force participation rate for each period. b) Calculate the unemployment rate for each period. Based on the provided data, what might be a reasonable "guesstimate" of the natural rate of unemployment for the years between 2008 and 2018? c) For each period calculate the employment-population ratio.

Below is a table with US labour market data (in thousands): 1998 Working-age population 205, 220 Population 276, 154 6, 204 Unemployed Employed 131,464 2008 233, 788 304, 543 8,948 145, 363 2018 257, 791 327, 436 6, 306 155, 761 a) Caculate the labour force participation rate for each period. b) Calculate the unemployment rate for each period. Based on the provided data, what might be a reasonable "guesstimate" of the natural rate of unemployment for the years between 2008 and 2018? c) For each period calculate the employment-population ratio.

ENGR.ECONOMIC ANALYSIS

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Chapter1: Making Economics Decisions

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Question

Below is a table with US labour market data (in thousands):
1998
Working-age population 205, 220
Population
Unemployed
Employed
2008
233, 788
304,543
8,948
276,154
6, 204
131, 464 145, 363
2018
257,791
327,436
6, 306
155, 761
a) Caculate the labour force participation rate for each period.
b) Calculate the unemployment rate for each period. Based on the provided data,
what might be a reasonable "guesstimate" of the natural rate of unemployment for
the years between 2008 and 2018?
c) For each period calculate the employment-population ratio.
d) In 2008 what is the number of discouraged workers?
e) Using the FRED St Louis Fed database, look at the behaviour of the US labour
participation rate between 2000 and 2015. What might explain its behaviour?

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