or March 2021, the Bureau of Labor Statistics reports that the total population (i.e., civilian population over 16 yrs.) is 261.0 million, the labor force is 160.5 million, the number of employed is 150.8 million. Calculate the unemployment rate and the labor force participation rate. (b) Is it possible for both the unemployment rate and the labor force participation to rise? Explain. Is it possible for the employment to population ratio to fall while the labor force participation rate rises? Explain.
or March 2021, the Bureau of Labor Statistics reports that the total population (i.e., civilian population over 16 yrs.) is 261.0 million, the labor force is 160.5 million, the number of employed is 150.8 million. Calculate the unemployment rate and the labor force participation rate. (b) Is it possible for both the unemployment rate and the labor force participation to rise? Explain. Is it possible for the employment to population ratio to fall while the labor force participation rate rises? Explain.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
For March 2021, the Bureau of Labor Statistics reports that the total population (i.e., civilian population over 16 yrs.) is 261.0 million, the labor force is 160.5 million, the number of employed is 150.8 million. Calculate the
(b) Is it possible for both the unemployment rate and the labor force participation to rise? Explain. Is it possible for the employment to population ratio to fall while the labor force participation rate rises? Explain.
Expert Solution

This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 5 steps

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.Recommended textbooks for you


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON


Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON

Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON

Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning

Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning

Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education