In an economy, the working-age population is 400 million. Of this total, 300 million workers are employed. 16 million workers are unemployed. 64 million workers are not available for work (homemakers, full-time students, etc.). 12 million workers are available for work but are discouraged and thus are not seeking work. 8 million workers are available for work but are not currently seeking work due to transportation or childcare problems The unemployment rate in this economy is%. (Round your answer to one decimal place.)

In an economy, the working-age population is 400 million. Of this total, 300 million workers are employed. 16 million workers are unemployed. 64 million workers are not available for work (homemakers, full-time students, etc.). 12 million workers are available for work but are discouraged and thus are not seeking work. 8 million workers are available for work but are not currently seeking work due to transportation or childcare problems The unemployment rate in this economy is%. (Round your answer to one decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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4.6M Filipinos jobless in July as unemployment worsens in Metro Manila - PSA Metro Manila (CNN Philippines, September 3)-Some 4.6 million Filipinos were out of work in July, slipping from an all-time high as lockdown rules were gradually eased, the Philippine Statistics Authority said Thursday. The PSA reported a 10 percent unemployment rate among Filipinos aged 15 and up, easing from 17.7 percet in April although still higher than the 5.4 percent level a year ago. National Statistician Dennis Mapa said in a media briefing that the relaxation of community quarantine rules allowved more Filipinos to return to work. However, unemployment was worse in Metro Manila at 15.8 percent or about 929,000 adults, surpassing the national average and rising from the 12.3 percent share of jobless residents for the region in April. Calabazon tallied about 886,000 unemployed, while Central Luzon had 552,000 jobless Filipinos, he added. These economic centers also count among the biggest number…
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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 people discouraged workers 2 million Please refer above table: My first question was to calculate the labour force and your answer was the number of people employed plus the Number of people unemployed(97+3)=100 million and in my last question, I asked that if the Number of people employed part-time will be counted in the labor force. Your answer was yes then the labor force should be (number of people employed plus the Number of people unemployed plus the Number of people employed part-time(97+3+5)=105 million. Please clarify.
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Bell-land's unemployment rate is 7.2%. The ruler of Bell-land ( a wonderful, wise middle-aged woman in a wheelchair) asks you whether this is a good rate and if it is an improvement? What is your answer? What are the issues that you need to think about before giving your answer? Explain your answer using the concepts learned in the module. Bell-land is not the same as the U.S.
You learn that 2,000 citizens that are not in the labor force would like a job. You also learned that there are 4000 involuntary part-time workers. Considering both discouraged workers and involuntary part-time workers, what is the unemployment rate: Total Population 50,000 Working Age population 40,000 Employed 20,000 Unemployed 5,00 A) 37.93 B) 35.48 C) 40.74 D)33.34
< Consider an economy that initially has a labor force of 1,000 workers. Of these workers, 950.0 are employed and each works 40 hours per week. Ten units of output are produced by each hour of labor. The total number of hours worked per week is 38000 (Round your answer to the nearest whole number). The total output per week is 380000 (Round your answer to the nearest whole number). The unemployment rate is 5% (Round your answer to one decimal place). The economy enters a recession. Employment falls by 4%, and the number of hours per week worked by each employed worker fails by 2%. Employment is now 912 (round to the nearest whole number), and the total number of hours worked per week is now 35,750.4 (round your answer to one decimal place). In addition, 2.0% of the labor force becomes discouraged at the prospect of finding a job and leaves the labor force. The size of the labor force is now (Round your answer to the nearest whole number) The number of workers unemployed is ☐ (Round…
State has a labor force of 78,567 persons and employment of 74,382. The unemployment rate for the city is:
Ellen is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to collect: Unemployment rate 6% Participation rate 62.5% Not in the labor force 63.5 million Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.Instructions: Enter your responses rounded to one decimal place.Labor force: millionWorking-age population: millionNumber of employed workers: millionNumber of unemployed workers: million
What are three problems with the measurement of unemployment, and how might these problems undermine our trust in official unemployment figures? Explain
In a town of 800 people there are 120 children under the age of 16, 76 retired people, 92 people with part -time jobs, 37 full-time students, and 21 people who watched their children fulltime. There were 154 people without work who gave up looking for a job. Everyone else either had a full-time job or was actively searching for one, and the labor force participation rate is 57.6 %. If fthe unemployment rate is 12.5%, what is the number of full-time employed people?