that apply. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They are employed workers who want to earn higher wages. O They have not looked for a job in 4 weeks (or longer), but they would like a job and are available for work. O They are full-time workers who would like to work only part-time. The following table contains U.S. employment information from August 2018. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 258,066,000 155,604,000 6,197,000 434,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which is calculated as follows: Unemployed+Discouraged Labor Force + Discouraged U-4 = 100 ×

that apply. O They are counted as part of the labor force by the Bureau of Labor Statistics. O They are employed workers who want to earn higher wages. O They have not looked for a job in 4 weeks (or longer), but they would like a job and are available for work. O They are full-time workers who would like to work only part-time. The following table contains U.S. employment information from August 2018. Civilian Population Employed Unemployed Discouraged (Persons 16 years old and over) (Persons) (Persons) (Persons) 258,066,000 155,604,000 6,197,000 434,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which is calculated as follows: Unemployed+Discouraged Labor Force + Discouraged U-4 = 100 ×

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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he table below shows the data for males and females age 16 and over in the country of Scoob in 2020. Not in labor force Men 45 million Women 35 million Unemployed Men 5 million Women 5 million Employed Men 85 million women 65 million What was the total labor force of Scoob in 2020?
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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?