The BLS survey reported the numbers in the table for a small community of 320 people. Calculate the unemployment rate and the labor force participation rate in this community. The unemployment rate is >>>Answer to 1 decimal place. percent. C Category Worked at least 1 hour as paid employees Were not working but had jobs or businesses. from which they were temporarily absent Had no employment and didn't want to work Were available for work and had looked for employment last week Were available for work and were waiting to be recalled to their previous job Number 200 10 30 20 10

The BLS survey reported the numbers in the table for a small community of 320 people. Calculate the unemployment rate and the labor force participation rate in this community. The unemployment rate is >>>Answer to 1 decimal place. percent. C Category Worked at least 1 hour as paid employees Were not working but had jobs or businesses. from which they were temporarily absent Had no employment and didn't want to work Were available for work and had looked for employment last week Were available for work and were waiting to be recalled to their previous job Number 200 10 30 20 10

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment

Section: Chapter Questions

Problem 7WNG

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Similar questions

Are U.S. unemployment rates distributed evenly across the population?
What criteria do the BLS use to count someone as employed? As unemployed?
A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.
Is the higher unemployment rates for minority workers necessarily an indication of discrimination? What could be some other reasons for the higher unemployment rate?
Would you expect the natural rate of unemployment to be roughly the same in different countries?
Would you expect the natural rate of unemployment to remain the same within one country over the long run of several decades?
If many workers become discouraged from looking for jobs, explain how the number of jobs could decline but the unemployment rate could fall at the same time.
Under what condition would a decrease in unemployment be bad for the economy?
Is it desirable to eliminate natural unemployment? Why or why not? Hint: Think about what our economy would look like today and what assumptions would have to be met to have a zero rate of natural unemployment.
Why do you think that unemployment rates are lower for individuals with more education?
The Bureau of Labor Statistics reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalanet. 36.40 million of whom were employed and 1.93 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?