The ABS reported that in September 2007,a cycle peak,the working-age population was 16,808,200 ,the labour force was 10,979,300 and employment was 10,514,600.calulate for that quarter the labour force participation rate and unemployment rate

The ABS reported that in September 2007,a cycle peak,the working-age population was 16,808,200 ,the labour force was 10,979,300 and employment was 10,514,600.calulate for that quarter the labour force participation rate and unemployment rate

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter20: Unemployment

Section: Chapter Questions

Problem 1QR

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Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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The ABS reported that in September 2007, a cycle peak, the working-age population was 16,808,200, the labour force was 10,979,300, and employment was 10,514,600. Calculate for that quarter the labour force participation rate and the unemployment rate.
The ABS reported that in September 2007, a cycle peak, the working-age population was16,808,200, the labour force was 10,979,300, and employment was 10,514,600. Calculate forthat quarter the labour force participation rate and the unemployment rate.(3.5 + 3.5 = 7 marks)
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If the population is 300 million, with 70 million under the age of 16 and institutionalized, another 70 million not in the labour force, 10 million unemployed and and 150 million employed, what is the unemployment rate?
the difference between the ‘labor force participation rate’ (LPR) and the ‘employment-to-population ratio’ (EPR), i.e. (PR-EPR), is equal to 15%. It is also known that the unemployment rate is equal to 20%, and the ‘working-age population’ is 300 million. Calculate: the number of unemployed people. the labor-force (work-force). labor force participation rate Please explain each answer
There are 21 unemployed people, 193 employed people, and 48 people are considered to be not part of the labor force. What is the labor force participation rate? Enter a number (measured in percentage terms) rounded to two decimal places. Do not enter a % sign. Next » Previous 耳 e ASUS