Fill in the blanks using the number that corresponds to the correct word or phrase in the word bank below:1. percentage2. unemployed3. not in labor force4. Census bureau6. Current Population Survey5. Total adult7. BLS8. lower9. recession10.4 weeks11. higher12. African American13. Establishment Payroll Survey14. unemployed15. labor forceThe U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau of the Census, asks aseries of questions to divide up the adult population into employed, unemployed, or 3To beclassified as unemployed, a person must have actively looked for work in the previous 10weeksbefore the survey. A person who does not have a job but has not actively looked for work in the last four weeks is. Labor force is comprised of 2counted as not in the 3plusemployed.Labor force participation rate is theof adults in an economy who are either employed orwho are unemployed and looking for a job. The rate is calculated by taking the number of people in the labor force, thatis, divided by thepopulation and multiplying by 100.Themeasures the percentage of the labor force that is unemployed. Themeasures the net change in jobs created for the month. The CPS is conducted by thewhile the EPs is conducted byThehave the highest unemployment rate among racial and ethnic groups. Unemployment isfor less educated than more educated;for middle-aged thanthe younger age group. The U.S. unemployment rate rises during periods ofbut falls back to

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Fill in the blanks using the number that corresponds to the correct word or phrase in the word bank below: 1. percentage 2. unemployed 3. not in labor force 4. Census bureau 5. Total adult 6. Current Population Survey 7. BLS 8. lower 9. recession 10.4 weeks 11. higher 12. African American 13. Establishment Payroll Survey 14. unemployed 15. labor force The U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau of the Census, asks a series of questions to divide up the adult population into employed, unemployed, or 3 .To be classified as unemployed, a person must have actively looked for work in the previous 10 weeks before the survey. A person who does not have a job but has not actively looked for work in the last four weeks is counted as not in the 3 . Labor force is comprised of 2 plus employed. Labor force participation rate is the of adults in an economy who are either employed or who are unemployed and looking for a job. The rate is calculated by taking the number of people in the labor force, that is, divided by the population and multiplying by 100.

Fill in the blanks using the number that corresponds to the correct word or phrase in the word bank below: 1. percentage 2. unemployed 3. not in labor force 4. Census bureau 5. Total adult 6. Current Population Survey 7. BLS 8. lower 9. recession 10.4 weeks 11. higher 12. African American 13. Establishment Payroll Survey 14. unemployed 15. labor force The U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau of the Census, asks a series of questions to divide up the adult population into employed, unemployed, or 3 .To be classified as unemployed, a person must have actively looked for work in the previous 10 weeks before the survey. A person who does not have a job but has not actively looked for work in the last four weeks is counted as not in the 3 . Labor force is comprised of 2 plus employed. Labor force participation rate is the of adults in an economy who are either employed or who are unemployed and looking for a job. The rate is calculated by taking the number of people in the labor force, that is, divided by the population and multiplying by 100.

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 2
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Household Employment Data (Numbers in billions) Working age Population Labor Force Employed Unemployed October 2019 259.8 164.4 158.5 5.8 July 2020 260.4 159.9 143.5 17.8 October 2020 260.9 160.9 149.8 11.1 Source: https://www.bls.gov/news.release/empsit.t01.htm Let’s calculate labor force participation and the unemployment rate for October 2019. X 100 Labor Force Participation Rate = People in the Labor Force Total Working Age Population X 100 = 164.4 259.8 = 0.6327 X 100 = 63.3% X 100 Unemployment Rate = Unemployed People X 100 Total Labor Force = 5.8 164.4 = 0.0353 X…
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