Month Total Population (thousands) Civilian Population (thousands) Labor Force (thousands) Employment (thousands) 2020-03-01 329,579 259,758 162,913 155,772 2020-04-01 329,696 259,896 156,481 133,403 Consider the U.S. labor market data above. These are actual data on U.S. total population, civilian population, labor force, and employment for the two months of March and April in 2020. The point of this exercise is to show you the damage done by COVID-19 pandemic to U.S. labor market in just one month. Calculate the following (use our rounding rules): For March 2020 (2020-03-01) calculate the following: Labor force participation rate =... percent. Fraction of the labor force that is unemployed = ...percent.
| Month | Total Population (thousands) | Civilian Population (thousands) | Labor Force (thousands) | Employment (thousands) |
| 2020-03-01 | 329,579 | 259,758 | 162,913 | 155,772 |
| 2020-04-01 | 329,696 | 259,896 | 156,481 | 133,403 |
Consider the U.S. labor market data above. These are actual data on U.S. total population, civilian population, labor force, and employment for the two months of March and April in 2020. The point of this exercise is to show you the damage done by COVID-19 pandemic to U.S. labor market in just one month. Calculate the following (use our rounding rules):
For March 2020 (2020-03-01) calculate the following:
Labor force participation rate =... percent.
Fraction of the labor force that is
For April 2020 (2020-04-01) calculate the following:
Labor force participation rate =... percent.
Fraction of the labor force that is unemployed = ...percent.
Don't forget to use our rounding rules.
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