or the next question consider the data in the table below for a simp Total Population 50,000 Working-Age Population Employed 40,000 20,000 Unemployed 5,000 You learn that 2,000 citizens that are not in the labor force would like a job. Consider the 2,000 discouraged workers. The unemployment rate considering the discouraged workers (but not the involuntary part time workers) is

or the next question consider the data in the table below for a simp Total Population 50,000 Working-Age Population Employed 40,000 20,000 Unemployed 5,000 You learn that 2,000 citizens that are not in the labor force would like a job. Consider the 2,000 discouraged workers. The unemployment rate considering the discouraged workers (but not the involuntary part time workers) is

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Use the table data below about this economy to answer the questions that follow regarding employment/unemployment. Show all calculations. Group Relevant population ?? Not in labor force 85 Labor Number in Millions Employed Unemployed 245 ?? 25 1. What is the relevant population in this economy? 1. How many people are employed in this economy? 1. Calculate the unemployment rate.
Table 29-3 Number of People (In Millions) Category Civilian labor force Persons unemployed 15 weeks or longer Job losers and persons who have completed temporary jobs (excludes job leavers) Total unemployed Total unemployed plus discouraged workers Total unemployed plus all marginally attached workers 120 2.0 3.5 7.0 7.8 8.7 Total unemployed plus all marginally attached workers plus total employed part-time 9.6 for economic reasons Refer to Table 29-3. What is the U-4 measure of labor underutilization? Note: Total Discouraged workers = Total unemployed plus discouraged workers - Total unemployed U-4 measure of labor underutilization = Total unemployed plus discouraged workers/(Total labor force + Total Dicouraged workers) 17.9% 6.9% 6.5% 7.0%
Please answer a, b and c. The table below shows the responses to a survey which asked whether a respondent worked in the past week and what their hourly wage was. Respondent Number of Hours Worked Hourly Wage 1 40 $10 2 20 $6 3 40 $8 4 0 $0 5 50 $20 a. What is the average hourly wage for those who worked? b. For those who worked, what is the average number of hours worked? c. What is the unemployment rate if everyone but the fourth respondent is in the labour force? d. What additional information would you need to know to determine if the fourth respondent is in the labour force? e. What is the labour force participation rate if everyone but the fourth respondent is in the labour force?
The table gives information about a nation's labor force. What is the number employed? The number employed is million. >>> Answer to 1 decimal place. Labor Market Data Labor force Not in labor force Unemployed 147.4 million 76.0 million 8.1 million
3. Calculate items A, B, and C in the table below. Employment Status August 2021 Civilian noninstitutional population 261,611 Civilian labor force 161,537 Participation rate Employed Employment-population ratio Unemployed Unemployment rate Not in labor force All numbers in Thousands. Source: Bureau of Labor Statistics. The number of persons who in principle could work. 153,154 58.5% B 100,074
The employment-population ratio is enter your response here percent. >>> Answer to 1 decimal place. Screenshot attached below
Of the following groups, who is eligible for unemployment insurance benefits? A The unemployed who quit their jobs B The unemployed who were laid off because their previous employers no longer needed their skills C) The unemployed who were fired for cause D The unemployed who just entered the labor force
Economics Total Population Working-age Populatior Unemployed Employed 300 200 10 90 4. Based on the table above, the unemployment rate for the economy is: 5. Based on the table above, the labor force participation rate for the economy is: please include formulas used
Also define employed person, unemployed person and unemployment rate.
4. The following data is from the Bureau of Labor Statistics (BLS). (https://data.bls.gov/ timeseries/LNS14000000) Category Civilian noninstitutional population Civilian labor force Participation rate Employed Employment-population ratio Unemployed Not in labor force May 2022 263,679 164,376 62.3 158,426 60.1 5,950 99,302 a. Calculate the unemployment rate for May 2022. (show your work) Use the Bureau of Labor Statistics Website, to answer the next two questions (b and c). Looking at the last 10 years of data: b. What was the rate, month and year for the highest unemployment rate? c. What was the rate, month and year for the lowest unemployment rate?
Which of the following statements are TRUE? Explain why. 1. Someone who has been laid off for eight weeks due to COVID-19 and is not looking for work since they are waiting to be called back to their old job in two months would be counted as not in the labour force by Statistics Canada. 2. Someone who is working part time but would prefer to work full time is counted by Statistics Canada as employed. 3. Someone who is out of work but has given up looking for work is counted by Statistics Canada as not in the labour force. 4. The Canadian working-age population consists of individuals 16 years of age and over.