Macroeconomics
10th Edition
ISBN: 9781319105990
Author: Mankiw, N. Gregory.
Publisher: Worth Publishers,
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Question
Chapter 2, Problem 9PA
(a)
To determine
Calculation of labor force participation rate.
(b)
To determine
(c)
To determine
Total employment is measured by household survey and establishment survey.
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An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 have one part-time job, 5 have two part-time jobs, 10 would like to work and are looking for jobs, 10 would like to work but are so discouraged they have given up looking, 10 are running their own businesses, 10 are retired, and 10 are small children.
Calculate the labor force and the labor-force participation rate.
Calculate the number of unemployed and the unemployment rate.
Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey.
K
In January 2021, the working-age population of the United States was 260.9 million. The working-age population is divided into
those in the labor force (160.2 million) and those not in the labor force (100.7 million). The labor force is divided into the
employed (150.0 million) and the unemployed (10.1 million). Those not in the labor force are divided into those not available for
work (93 8 million) and those available for work (7.1 million). Finally, those available for work but not in the labor force are
divided into discouraged workers (0.6 million) and those currently not working for other reasons (6.5 million).
Use this data to help determine which one of the following statements is true
OA
OB.
The unemployment rate is
10.1 million
160.2 million
The labor force participation rate is
OC. The labor force is 260.9 million
OD. Both A and B above are true.
x100-6.3%
160.2 milion
200.9 million
x100-61.4%
The Employment Status of the Civilians
Source: US Department
PRA
ment Situation…
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- 3. Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force 1.Steve worked 40 hours last week in a music supply store. 2. Last week, Elizabeth worked 10 hours as a computer programmer for the National Video Company and attended night classes at the local college. She would prefer a full-time job. 3. Roger lost his job at the R-gone Manufacturing Company. Since then he has been trying to find a job at other local factories. 4. Linda is a homemaker. Last week she was occupied with her normal household chores. She neither held a job nor looked for a job. 5. Linda's father is unable to work. 6. Scott has a Ph.D. He worked full-time but does not like his job as a dishwasher. He has applied for jobs with three companies and five universities. As soon as he gets an offer, he will quit his current job. 7. Mary-Helen has been out of work for a full year. She would take a job if it was offered, but no local companies are…arrow_forwardThe accompanying table provides data on the size of the labour force and the number of unemployed workers for the provinces and territories of Canada. Labour force (thousands) Unemployed (thousands) Province/Territory January 2019 January 2020 January 2019 January 2020 Alberta 2,497.6 2,500.1 169.8 181.7 British Columbia 2,672.5 2,664.5 125.3 118.8 Manitoba 696.1 696.7 38.6 35.7 New Brunswick 387.0 390.1 31.4 29.2 Newfoundland and Labrador 262.2 252.5 29.9 30.0 Northwest Territories 23.0 22.6 1.9 1.9 Nova Scotia 499.2 504.5 33.6 37.2 Nunavut 16.5 15.9 2.4 2.1 Ontario 7,797.7 7,973.6 448.6 415.3 Prince Edward Island 83.6 86.8 8.0 6.5 Québec 4,547.1 4,597.2 242.9 232.7 Saskatchewan 610.9 617.5 34.1 37.3 Yukon 22.2 22.2 0.9 1.1 Data from: Statistics Canada. Calculate the number of workers employed in each province and territory in January 2019 and in January 2020. Use your answer to calculate the change in the total number of workers employed between January 2019 and January 2020. For…arrow_forwardSuppose the number of employed people in an economy is 121,166,640. The unemployment rate in this economy is 10.4 percent, and the labor force participation rate is 72.5 percent. a. What is the size of the labor force? b. How many people are unemployed? c. What is the size of the working-age population?arrow_forward
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