Refer to the article below to answer two questions: FRONT PAGE Unemployment Rate Hits a 26-Year High The nation's unemployment rate climbed to 10.2 percent in October, the highest rate since 1983. Nonfarm payrolls dropped another 190,000 last month, adding to 22 consecutive months of job losses. The biggest job losses were in manufacturing, construction, and retail employment. Since the recession began over 7.3 million jobs have been lost. The unemployment rate has more than doubled from 4.9 percent in December 2007 to its current level of 10.2 percent. In October, 35.6 percent of unemployed persons were jobless for 27 weeks or more, while 20 percent of the unemployed were jobless for 5 weeks or less. Source: U.S. Bureau of Labor Statistics, November 10, 2009. If the number of unemployed people is 15.7 million, in October 2009 Instructions: Round your responses to one decimal place. a. how many people were in the labor force? million b. how many people were employed? million

Refer to the article below to answer two questions: FRONT PAGE Unemployment Rate Hits a 26-Year High The nation's unemployment rate climbed to 10.2 percent in October, the highest rate since 1983. Nonfarm payrolls dropped another 190,000 last month, adding to 22 consecutive months of job losses. The biggest job losses were in manufacturing, construction, and retail employment. Since the recession began over 7.3 million jobs have been lost. The unemployment rate has more than doubled from 4.9 percent in December 2007 to its current level of 10.2 percent. In October, 35.6 percent of unemployed persons were jobless for 27 weeks or more, while 20 percent of the unemployed were jobless for 5 weeks or less. Source: U.S. Bureau of Labor Statistics, November 10, 2009. If the number of unemployed people is 15.7 million, in October 2009 Instructions: Round your responses to one decimal place. a. how many people were in the labor force? million b. how many people were employed? million

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

In August of 2020, the United States unemployment rate was 8.4%; in September, it was 7.8%. Which of the following is true? There is a 7.7% decrease in the United States unemployment rate from August to September, 2020. There is a 0.077 percentage point decrease in the United States unemployment rate from August to September, 2020. There was a 0.071 percentage point decrease in the United States unemployment rate from August to September, 2020. There was a 0.6% decrease in the United States unemployment rate from August to September, 2020. There was a 7.1% decrease in the United States unemployment rate from August to September, 2020.
If a worker is employed throughout the holiday season but remains unemployed for the rest of the year, then what category of unemployed persons would this individual fat into? Frictionally unemployed Structurally unemployed Cyclically unemployed Seasonally unemployed
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Structural Frictional Cyclical Sean recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. A recent recession has reduced the number of visitors to a local theme park. The park has had to lay off many of its employees, including Cho. Yvette just graduated from college and is looking for a full-time position with an investment banking firm. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Rate Unemployment Type (Percent) Frictional 3.1 Cyclical 0.0 Structural 1.0 Total unemployment 4.1 True or False: This economy is not currently at its natural rate of unemployment. O True O False
The population (age 16 and over) of Pageland is 150 million; 11 million are unemployed, and 89 million hold jobs. What are the rates of unemployment and labor force participation of Pageland? Unemployment is 7 percent, and labor force participation is 88 percent. Unemployment is 7 percent, and labor force participation is 72 percent. Unemployment is 11 percent, and labor force participation is 66 percent. Unemployment is 11 percent, and labor force participation is 89 percent.
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Structural Frictional Cyclical Automobile demand has fallen during a recent recession, and Maria has been laid off from her job on the assembly line. Edison recently lost his job as a dishwasher. Minimum-wage legislation keeps employers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. Hilary is a physician who has decided to relocate to California to be closer to her family. She is currently interviewing with several prestigious hospitals in the San Francisco Bay Area. The following table shows data on frictional, cyclical, structural, and total unemployment for an economy. Unemployment Type Rate (Percent) Frictional 3.2…
There are 6060 million unemployed people in a country, 29%29% of which have been unemployed for less than five weeks. The number of people who have been unemployed for five to fourteen weeks is 1212 million less than the number of people who have been unemployed for less than five weeks. People who have been unemployed for fifteen to twenty-six weeks account for 14%14% of the total unemployed population.Calculate the percentage of people who have been unemployed for twenty-seven weeks or more. Enter your answer in the box below..
The three people described in the following table are categorized as unemployed by the Bureau of Labor Statistics. Identify each person in the table as structurally, frictionally, or cyclically unemployed. Unemployment Type Demand for new vehicles has fallen during a recent recession, and Alyssa has been laid off from her job at an automotive factory. Rosa just graduated from college and is looking for a full-time position with an investment banking firm, Nick recently lost his job as a waiter at a local restaurant. A recent increase in the minimum wage keeps local emplayers from adding more of the low-skill positions for which he qualifies, so he has been unable to find work. He continues to look for a job, but he's considering going back to school for vocational training. The following table presents data on frictional, cyclical, structural, and total unemployment for an economy. Unemployment Type Frictional Cyclical Structural Total unemployment Rate (Percent) 3.1 0.0 1.0 4.1…
Yermo, California, has a labor force of 5,000 persons and employment of 4,100. The unemployment rate for the city is? (Please specify answer in percentage. If answer is .06, then convert to percentage and enter 6. NO NEEDT TO ENTER % OR PERCENT SIGN. Convert answer by either moving decimal point two places to the right or multiplying by 100),
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest of the adult population is out of the labor force. What’s the unemployment rate? What share of population is in the labor force? (Show your work in your answer.)
The Bureau of Labor Statistics reported that in December 2015, the labor force was 157.8 million, employment was 149.9 million, and the working-age population was 252.0 million. Calculate the unemployment rate and the labor force participation rate. The unemployment rate was nothing percent. >>> Answer to 1 decimal place. The labor force participation rate was nothing percent. >>> Answer to 1 decimal place.
Chapter 9 1.7 Fill in the missing values in the following table of data collected in the household survey for December 2020: Working-Age Population Employed Unemployed Unemployment rate Labor force Labor force participation rate Employment-population ratio 149,830,000 10,736,000 61.5%
Last week Frank quit his job in Kansas City expecting to be able to get a job as an actor in Los Angeles. He is a good actor, but he hasn’t found an acting job yet. Economists would classify him as: Group of answer choices not in the labor force frictionally unemployed structurally unemployed cyclically unemployed