Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation Rate = According to this formula, what is t 20% O 60% 66.67% 200% 100 × Number of Unemployed Workers Labor Force 100x Number in Labor Force Adult Population 100 X 100 x Number of Employed Workers Adult Population Number in Labor Force Number of Employed Workers of this economy of six people?
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- 1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Alex, Becky, Clancy, Eileen, Kate, and Hubert. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as "Employed", "Unemployed", "Not in the labor force" (if not in the civilian labor force but still part of the adult population), or "Not in the adult population" (if not in the civilian adult population). Status Person Alex is a 47-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Becky is a 36-year-old autoworker who was just laid off by her employer 6 weeks ago Since being laid off, Becky has been actively searching for a new job. Clancy is a 37-year-old graphic designer who is taking 2 years off from…1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Alex, Becky, Clancy, Eileen, Kate, and Hubert. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Alex is a 40-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Becky is a 24-year-old recent college graduate . She did not work for pay last week, but she had two job interviews. Clancy is a 45-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave…1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Larry, Megan, Raphael, Susan, Becky, and Alex. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Larry is a 25-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club. Megan is a 27-year-old recent college graduate . She did not work for pay last week, but she had two job interviews. Raphael is a 37-year-old graphic designer who is taking 2 years off from work to care for his small daughter. Becky is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she…
- 1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Raphael, Susan, Alex, Becky, Eileen, and Clancy. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Raphael is a 49-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Susan is a 31-year-old professional basketball player . She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Alex is a 37-year-old graphic designer who is taking 2 years off…1. Measuring employment, unemployment, and labor force participation Consider a tiny hypothetical economy composed entirely of the following people: Alex, Becky, Clancy, Dileen, Kate, and Hubert. Each person's employment status is given in the following tabl Based on the criteria used by the Bureau of Labor Statistics (ALS), Identify each person's status as employed, unemployed, "not in the labor for not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Alex is a 23-year-old professional tennis player. When he's not competing, he works as a coach at a local tennisclub Becky is a 42-year-old steelworker who was just laid off by her employer She is trying to find any kind of job to help make ends meet. Clancy is a 40-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago Kats is a 29-year-old who…Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Number in Laber Force Adhult Ppulation 100 x Labor Force Participation Rate = According to this formula, what is the labor force participation rate of this economy of six people? O 20% 60% O 66.67% O 200% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Number of Unemployed Workers Labr Fare 100 x Unemployment Rate = According to this formula, what is the unemployment rate of this economy of six people? O 20% O 60% O 66.67% O 200%
- 1. Measuring employment, unemployment, and labor force participation Consider a small economy composed of six people: Antonio, Caroline, Dmitri, Frances, Latasha, and Jake. Each person's employment status is described in the following table. Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the labor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian adult population. Person Status Antonio is a 47-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work. Caroline is a 28-year-old professional basketball player . She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position. Dmitri is a 77-year-old retired professor. He enjoys…Create a table with the National Unemployment rates from February 2020 through October 2020. Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 3.5 3.5 4.4 14.7 13.2 11.0 10.2 8.4 7.9 6.9 6.7 6.7 What trend(s) do you observe? Next, review the employment situation summaries from March 2020 and October 2020.Q1: Consider the following labor statistics for adult population (age 16 and older) in Oman displayed in the table below (all numbers in millions). Employment Status Number of people (in millions) Employed 130 Unemployed 9. Not in Labor Force 85 a. Using the data above calculate Labor Force for oman. b. Using the data above calculate unemployment rate for Oman. C. Using the data above calculate adult population for Oman. d. Using the data above calculate labor force participation rate for Oman.
- Q) The Australian Bureau of Statistics (ABS) reported in May 2017 that the civilianpopulation in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and0.7 million were unemployed.Calculate Australia’s labor force and the number of people in the civilianpopulation who were not in the labor force? Also, with examples examine thecauses of structural unemployment in Australiaa) Following data from the labour department of Country X is provided In Millions Total Civilian Population 340 Employed Workers 123 People not looking for work 48 People incapable of work 23 Using the table above, calculate the unemployment rate. b) Based on the information given in the table below, calculate the value of Net Domestic Product (NDP) of Country X. ITEM $(millions) Household Consumption 2,780 Depreciation of capital goods 365 Factor income received from abroad 580 Government investment 824 Exports 663 Imports 790 Factor income paid to abroad 525 Gross private domestic investment 894 Government Consumption 347 Transfer Payments 1,109 c) What is the difference between 'flow' and 'stock'? d) Explain three shortcomings of using GDP to measure the size of the economy.16) If the Local employment sector of manufacturing is 40,125 and total local total employment is 320,147 and national employment in that sector is 1,142,228, with total national employment at 13,425,000 what is the location quotient? 17) The location quotient must be than one a. Less than b. Equal to c. Greater d. None of the above 18) Based on question 16, what percentage of the local manufacturing are basic employees? 19) What is the EBM, if total basic employment is 128,500 and total employment is 350.000? 20) What does the EBM indicate in question 19? 21) Based on question 19, If the population is 798,112, what is the PER. 22) What does Does the PER indicate?