The following table contains U.S. employment information from June 2019.Civilian Population(Persons 16 years old and over)Employed(Persons)Unemployed Discouraged(Persons)(Persons)259,037,000157,005,0005,975,000425,000The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 meaof labor underutilization, which is calculated as follows:Unemployed+ DisCOuraged= 100 x Tabor Porce + DiscouragedU-4Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization.Official Unemployment Rate(Percent)U-4 Measure of Labor Underutilization(Percent)

Unemployment is a situation in which persons who are able, willing and looking for jobs are unable…

Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate (Percent) U-4 Measure of Labor Underutilization (Percent)

Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization. Official Unemployment Rate (Percent) U-4 Measure of Labor Underutilization (Percent)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Related questions

Q: When the following events happen, does the unemployment rate rise (R), fall (F), or stay the same…

A: Since number of unemployment people increase, unemployment rate increases (R).

Q: If a contry has a noninstitutional population of 200 million and a labor force of 160 million and…

A: Labor force participation rate: It indicates the percentage of the working-age population in the…

Q: Structural Unemployment occurs when wage is kept above equilibrium. There are three reasons for…

A: Structural unemployment occurs when wages do not exist. Adjust in equilibrium so that the number of…

Q: In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Swedish…

A: Employed are those non-institutionalised individuals who are engaged in formal employment and are…

Q: Present three major arguments of those who believe that IT will result in massive unemployment.

A: Technological growth contributes to industry development, expedites research, and fosters global…

Q: When the following events happen, does the unemployment rate rise, fall, or stay the same? Briefly…

A: The unemployment rate is the proportion of employed people who are also unemployed in a given…

Q: Reducing the natural rate of unemployment requires reducing the rate of job separation and…

A: Natural rate of unemployment is the unemployment rate that persist in a healthy and growing economy…

Q: Calculate the unemployment rate based on the following information: Working-age population: 219…

A: Unemployment is an economic problem that occurs when people who are able and willing to work fail to…

Q: Since 1960 there has been a substantial increase in unemployment rates in major European countries.…

A: The unemployment refers to the phenomenon in which the people who are willing to work at the…

Q: 2. Discouraged workers Which of the following statements correctly describe discouraged workers? (If…

A: A discouraged worker or labor is a person who can work and eligible for employment but is unemployed…

Q: In March 2016 American employers added 215,000 positions to their payrolls, bringing the average job…

A: The unemployment rate depicts the proportion of unemployed individuals in the total labor force. The…

Q: What is being done to end unemployment in the U.S.

A: Answer - Measures to decrease unemployment in U.S. - 1. Stimulus for industries in crisis - U.S.…

Q: All types of unemployment are natural except one, which is

A: Unemployment refers to a situation when people who look for job and are willing to work at at the…

Q: This question explores the calculation of the unemployment rate. You will be provided some imperfect…

A: Labor force is the addition of total number of employed person and total number of unemployed…

Q: Discouraged workers a. are part of the labor force b. are part of frictional unemployment c. are…

A: Discouraged workers are those workers who want to work but not looking for a job. Due to being…

Q: QUESTION 7 Which of the following pictures best describes the impact on the labor market of an…

A: Unemployment insurance benefits that are more generous improve the functioning of the labour market…

Q: Total Civilian Population= 340 million Employed Workers= 123 million People not looking for work=…

A: The unemployment rate refers to the people who are willing to work and are actively looking for…

Q: Jake is a full-time worker. Today, he is fired from his job, and he suddenly decides to retire. Due…

A: Here, jr is given that that an lost his job and become unemployed, but at the same time, he decides…

Concept explainers

Unemployment and Cost of Unemployment

Unemployment is the state of being unemployed, even when an individual is actively seeking work opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed.

Question

The following table contains U.S. employment information from June 2019.
Civilian Population
(Persons 16 years old and over)
Employed
(Persons)
Unemployed Discouraged
(Persons)
(Persons)
259,037,000
157,005,000
5,975,000
425,000
The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 mea
of labor underutilization, which is calculated as follows:
Unemployed+ DisCOuraged
= 100 x Tabor Porce + Discouraged
U-4
Fill in the following table by calculating the official unemployment rate and the U-4 measure of labor underutilization.
Official Unemployment Rate
(Percent)
U-4 Measure of Labor Underutilization
(Percent)

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

Find the relative change in unemployment from January 2005 to December of 2015.
How can seasonal unemployment be alleviated? Should it be alleviated? Why or why not?
The Labor Force is 12,000,000 and the number of employed is 11,500,000, what is the unemployment rate
The following are types of unemployment except: Frictional Unemployment Seasonal Unemployment Cyclical Unemployment Structural Unemployment Supply-deficient unemployment
Classify each of the below individuals as employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A 14-year old who babysits on the weekend: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An active-duty soldier who volunteers without pay in the community: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A parent who has stopped looking for jobs in order to take care of the children: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. A student who has begun applying for jobs but has not yet found one: employed, unemployed, not in the labor force, or not in the adult, civilian, non-institutionalized population. An actor who works part-time at a restaurant but is looking for full-time work: employed, unemployed, not in the labor force, or not in…
Examine the following expression and analyze it:One of the benefits of unemployment is that it enables a higher quality job search and promotes economic efficiency, but increases the unemployment rate and creates economic recession.
Include correctly labeled diagrams, if useful or required, in explaining your answers. A correctly labeled diagram must have all axes and curves clearly labeled and must show directional changes. If the question prompts you to “Calculate,” you must show how you arrived at your final answer. The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of discouraged workers 2 million (c) Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain. (d) Calculate what the cyclical unemployment rate would be if the actual rate of unemployment increased to 5 percent. Show your work.
Unemployment is a very important topic in macroeconomics. A high unemployment rate means that a lot of individuals willing to work cannot find a job. This is bad for the economy, as some resources (i.e., labour) remain idle. Comment on the effects that being unemployed have on an individual.
What is the current unemployment rate and the labor force participation rate?
In which of the following cases will we observe unemployment? the quantity of labor demanded is greater than the quantity of labor supplied at the going wage rate. the wage is below the level that balances supply and demand for labor. there is a shortage of workers. the quantity of labor demanded is less than the quantity of labor supplied at the going wage rate.
Explain the difference between the natural rate of unemployment and the actual rate of unemployment as reported by the US Department of Labor.
The Australian Bureau of Statistics(ABS) reported in May2017 that the civilian population in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed. What will be Australia’s labor force and the number of people in the civilian population who were not in the labor force? Also, with examples examine the causes of structural unemployment in Australia. Thanks