Using the following data, compute a) the unemployment rate, b) the employment rate, c) the labor force participation rate. civilian non-institutional population = 200 million number of employed persons = 126 million number of unemployed person = 8 million

Using the following data, compute a) the unemployment rate, b) the employment rate, c) the labor force participation rate. civilian non-institutional population = 200 million number of employed persons = 126 million number of unemployed person = 8 million

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 6WNG

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Question

Using the following data, compute a) the unemployment rate, b) the employment rate, c) the labor force participation rate.

civilian non-institutional population = 200 million

number of employed persons = 126 million

number of unemployed person = 8 million

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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