Consider the following statistics from a Labor Market and then answer the questions which follow; • 8,570 workers have been laid-off from employment and are waiting to be recalled. • 4,523 have lost morale and quit actively seeking employment. • 3,498 people are below 16years. • 53,862 people are currently in education and not searching for employment. • 9,454 workers have been retired from employment. • 57,367 workers are employed but 65% are still searching for better employment. • 378 people have switched between jobs. • 157 quit their jobs because of low salaries and are seeking better paying jobs. • 12,321 new graduates are actively seeking formal employment. • 1,563 are in jail. a) How many people are discouraged workers, unemployed and in the Labor Force? b) Calculate the unemployment rate? c) How many people are not in the Labor Force and how many people are part of the Adult Working Population?
Consider the following statistics from a Labor Market and then answer the questions which follow;
• 8,570 workers have been laid-off from employment and are waiting to be recalled.
• 4,523 have lost morale and quit actively seeking employment.
• 3,498 people are below 16years.
• 53,862 people are currently in education and not searching for employment.
• 9,454 workers have been retired from employment.
• 57,367 workers are employed but 65% are still searching for better employment.
• 378 people have switched between jobs.
• 157 quit their jobs because of low salaries and are seeking better paying jobs.
• 12,321 new graduates are actively seeking formal employment.
• 1,563 are in jail.
a) How many people are discouraged workers, unemployed and in the Labor Force?
b) Calculate the
c) How many people are not in the Labor Force and how many people are part of the Adult Working Population?
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