Period 1 Period 2 Jan Jan Working Age Population 64 591 67 153 Labor Force Employed 38 461 40 047 Underemployed 6 883 7 879 Unemployed 2 703 2 469 Labor Force Participation Rate (%) Employment Rate (%) 93.4 94.2 Underemployment Rate (%) 17.9 19.7 Unemployment Rate (%) 1. What is the labor force participation rate for period 2? 2. What is the unemployment rate for period 1?

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Problem #4: Refer to the table below to answer the following questions:
Period 1
Period 2
Jan
Jan
Working Age Population
64 591
67 153
Labor Force
Employed
38 461
40 047
Underemployed
6 883
7 879
Unemployed
2 703
2 469
Labor Force Participation
Rate (%)
Employment Rate (%)
93.4
94.2
Underemployment Rate
(%)
17.9
19.7
Unemployment Rate (%)
1. What is the labor force participation rate for period 2?
2. What is the unemployment rate for period 1?
Transcribed Image Text:Problem #4: Refer to the table below to answer the following questions: Period 1 Period 2 Jan Jan Working Age Population 64 591 67 153 Labor Force Employed 38 461 40 047 Underemployed 6 883 7 879 Unemployed 2 703 2 469 Labor Force Participation Rate (%) Employment Rate (%) 93.4 94.2 Underemployment Rate (%) 17.9 19.7 Unemployment Rate (%) 1. What is the labor force participation rate for period 2? 2. What is the unemployment rate for period 1?
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