Numbers of people took survey 58 number reporting at least one hour per week of paid employment 22 number working less than 30hours 7 Number of people working 30 or more hours 15 number not working but actively seeking for work 8 number of not working and not looking for work who are student 30 homemakers 1 other 5 1) what is the number of employed? 2) what is the number of unemployed? 3) what is the labor force?

ENGR.ECONOMIC ANALYSIS
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Author:NEWNAN
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Chapter1: Making Economics Decisions
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Numbers of people took survey 58

number reporting at least one hour per week of paid employment 22

number working less than 30hours 7

Number of people working 30 or more hours 15

number not working but actively seeking for work 8

number of not working and not looking for work who are

student 30

homemakers 1

other 5

1) what is the number of employed?

2) what is the number of unemployed?

3) what is the labor force?

4)what is the unemployment rate%?

5) why might an individual have characterized themself unemployment when in fact they is not actively seeking for a job?

6)why might an individual be counted as not in labor force when that person might actually want a job? 

 

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Step 1

Unemployment refers to the situation of the person in which he is willing to work but he does not find his suitable job and is not also looking for one. The unemployment and employment standards are very essential for a country because it shows the population in the labor force of a country and helps in growth.

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