The following table displays employment data from FRED* for February, 2023. The values are in thousands of persons. "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. Title Value Unemployment 5,936 Civilian labor force 166,251 2,840 Employment level part-time for economic reasons When employed individuals become unemployed, the civilian labor force does not change Use the data in the table above to calculate two different unemployment rates. (Enter your responses rounded to two decimal places.) i The civilian unemployment rate is percent. The civilian unemployment rate including persons who are underemployed (part-time for economic reasons) is percent.
The following table displays employment data from FRED* for February, 2023. The values are in thousands of persons. "Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. Title Value Unemployment 5,936 Civilian labor force 166,251 2,840 Employment level part-time for economic reasons When employed individuals become unemployed, the civilian labor force does not change Use the data in the table above to calculate two different unemployment rates. (Enter your responses rounded to two decimal places.) i The civilian unemployment rate is percent. The civilian unemployment rate including persons who are underemployed (part-time for economic reasons) is percent.
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
Related questions
Question
G.99.
Transcribed Image Text:The following table displays employment data from FRED for February, 2023. The values are in thousands of persons.
*Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.
Title
Value
5,936
166,251
2,840
Unemployment
Civilian labor force
Employment level part-time for economic reasons
When employed individuals become unemployed, the civilian labor force does not change
Use the data in the table above to calculate two different unemployment rates. (Enter your responses rounded to two decimal places.) i
The civilian unemployment rate is percent.
The civilian unemployment rate including persons who are underemployed (part-time for economic reasons) is percent.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 2 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (12th Edition)
Economics
ISBN:
9780134078779
Author:
Karl E. Case, Ray C. Fair, Sharon E. Oster
Publisher:
PEARSON
Engineering Economy (17th Edition)
Economics
ISBN:
9780134870069
Author:
William G. Sullivan, Elin M. Wicks, C. Patrick Koelling
Publisher:
PEARSON
Principles of Economics (MindTap Course List)
Economics
ISBN:
9781305585126
Author:
N. Gregory Mankiw
Publisher:
Cengage Learning
Managerial Economics: A Problem Solving Approach
Economics
ISBN:
9781337106665
Author:
Luke M. Froeb, Brian T. McCann, Michael R. Ward, Mike Shor
Publisher:
Cengage Learning
Managerial Economics & Business Strategy (Mcgraw-…
Economics
ISBN:
9781259290619
Author:
Michael Baye, Jeff Prince
Publisher:
McGraw-Hill Education