Using Table 1.1, calculate the Unemployment Rate in Nellyville. Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market definitions discussed in class. Assume that full-time students, homemakers, retirees, and those who are too disabled to work are not looking for a job. Table 1.1 Population (of which 2/3 are 16 and older) Full Time Students 3,000 400 Retired 50 Currently Working Currently On Vacation Called in Sick Full Time Homemakers Others Not Working (10 are too disabled to work. The other 340 are actively seeking employment) 400 80 20 100 350 42% O 15% 22.5% 40%
Using Table 1.1, calculate the Unemployment Rate in Nellyville. Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market definitions discussed in class. Assume that full-time students, homemakers, retirees, and those who are too disabled to work are not looking for a job. Table 1.1 Population (of which 2/3 are 16 and older) Full Time Students 3,000 400 Retired 50 Currently Working Currently On Vacation Called in Sick Full Time Homemakers Others Not Working (10 are too disabled to work. The other 340 are actively seeking employment) 400 80 20 100 350 42% O 15% 22.5% 40%
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Using Table 1.1, calculate the Unemployment Rate in Nellyville.
Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market definitions
discussed in class. Assume that full-time students, homemakers, retirees, and those who are too disabled to
work are not looking for a job.
Table 1.1
Population (of which 2/3 are 16 and older)
Full Time Students
Retired
3,000
400
50
Currently Working
Currently On Vacation
Called in Sick
Full Time Homemakers
400
80
20
100
Others Not Working (10 are too disabled to work. The other 340 are actively
350
seeking employment)
42%
O 15%
O 22.5%
40%
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