We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job. • How many workers are employed? • How many workers are unemployed? • How many workers were in the labour force?
We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job. • How many workers are employed? • How many workers are unemployed? • How many workers were in the labour force?
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
Section: Chapter Questions
Problem 3P
Related questions
Question
Can I please get some help with this question?
![We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers,
15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently
looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the
workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just
found a job.
• How many workers are employed?
• How many workers are unemployed?
• How many workers were in the labour force?
• How many workers are not in the labour force?
• Calculate the unemployment rate.
• Calculate the labour force participation rate.
• Calculate the employment to population ratio. (using 1 decimal place)
%
%
%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8968595b-146d-47b0-bcab-b6cf5ee01065%2Fc3b3df56-6472-4934-8f3d-b9b78e4890e6%2Fv2fljt_processed.jpeg&w=3840&q=75)
Transcribed Image Text:We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers,
15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently
looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the
workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just
found a job.
• How many workers are employed?
• How many workers are unemployed?
• How many workers were in the labour force?
• How many workers are not in the labour force?
• Calculate the unemployment rate.
• Calculate the labour force participation rate.
• Calculate the employment to population ratio. (using 1 decimal place)
%
%
%
Expert Solution
![](/static/compass_v2/shared-icons/check-mark.png)
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
This is a popular solution!
Trending now
This is a popular solution!
Step by step
Solved in 4 steps
![Blurred answer](/static/compass_v2/solution-images/blurred-answer.jpg)
Follow-up Questions
Read through expert solutions to related follow-up questions below.
Follow-up Question
Please assist with the last 4 questions (d-g). Thank you.
![We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers,
15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently
looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the
workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just
found a job.
• How many workers are employed?
• How many workers are unemployed?
• How many workers were in the labour force?
• How many workers are not in the labour force?
• Calculate the unemployment rate.
• Calculate the labour force participation rate.
• Calculate the employment to population ratio. (using 1 decimal place)
%
%
%](https://content.bartleby.com/qna-images/question/8968595b-146d-47b0-bcab-b6cf5ee01065/bde4b2a7-8fe2-45c3-89a6-b51d8fdb9de2/r80ein9_thumbnail.jpeg)
Transcribed Image Text:We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers,
15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently
looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the
workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just
found a job.
• How many workers are employed?
• How many workers are unemployed?
• How many workers were in the labour force?
• How many workers are not in the labour force?
• Calculate the unemployment rate.
• Calculate the labour force participation rate.
• Calculate the employment to population ratio. (using 1 decimal place)
%
%
%
Solution
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
![Exploring Economics](https://www.bartleby.com/isbn_cover_images/9781544336329/9781544336329_smallCoverImage.jpg)
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![MACROECONOMICS FOR TODAY](https://www.bartleby.com/isbn_cover_images/9781337613057/9781337613057_smallCoverImage.gif)
![Exploring Economics](https://www.bartleby.com/isbn_cover_images/9781544336329/9781544336329_smallCoverImage.jpg)
Exploring Economics
Economics
ISBN:
9781544336329
Author:
Robert L. Sexton
Publisher:
SAGE Publications, Inc
![Principles of Economics 2e](https://www.bartleby.com/isbn_cover_images/9781947172364/9781947172364_smallCoverImage.jpg)
Principles of Economics 2e
Economics
ISBN:
9781947172364
Author:
Steven A. Greenlaw; David Shapiro
Publisher:
OpenStax
![MACROECONOMICS FOR TODAY](https://www.bartleby.com/isbn_cover_images/9781337613057/9781337613057_smallCoverImage.gif)
![Economics For Today](https://www.bartleby.com/isbn_cover_images/9781337613040/9781337613040_smallCoverImage.gif)
![Survey Of Economics](https://www.bartleby.com/isbn_cover_images/9781337111522/9781337111522_smallCoverImage.gif)
![Micro Economics For Today](https://www.bartleby.com/isbn_cover_images/9781337613064/9781337613064_smallCoverImage.gif)