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| Age |
Employed (Thousands of People) |
Unemployed (Thousands of People) | Not in Labor Force (Thousands of People) |
| 16 to 19 years | 5,074 | 827 | 10,853 |
| 20 to 24 years | 14,132 | 1,127 | 6,137 |
| 25 to 54 years | 98,833 | 3,850 | 23,014 |
| 55 to 64 years | 26,064 | 835 | 14,792 |
| 65 years and over | 9,234 | 343 | 39,964 |
| Total | 153,337 | 6,982 | 94,759 |
1) What is the national
2) Complete the following table by computing the unemployment rate for each age group.
| Age | Unemployment Rate |
| 16 to 19 years | |
| 20 to 24 years | |
| 25 to 54 years | |
| 55 to 64 years | |
| 65 years and over |
3) Which of the following groups has an unemployment rate lower than the national average unemployment rate?
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- 987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 45,600 Part-Time workers 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 67,890 laid off receptionists looking for work 234 Self-Employed 67,432 (ages 23-25) looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5654 Temp Workers 543 recent university graduates that are going back to graduate school 5000 armed forces 3500 institutionalized 3 (c) Suppose that 20,000 of the employed switches to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not working and not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the "true" unemployment rate. (d) Illustrate and carefully explain the impact of an increase in the income tax rate from 25 percent to 35 percent on the demand…Real Wage Number of Workers Demanded Labor Force Participation Rate 60 120,000,000 30% 70 110,000,000 35% 80 100,000,000 40% 90 90,000,000 45% 100 80,000,000 50% 110 70,000,000 55% 120 60,000,000 60% 130 50,000,000 65% 140 40,000,000 70% 150 30,000,000 75% 160 20,000,000 80% 170 10,000,000 85% Ignore what happened in the previous question. The table above shows some pieces of information about the labor market condition in a country. It shows the number of workers demanded in the country at different levels of real wage. It also shows the labor force participation rates at those real wage levels. For example, if the real wage is 60, only 30% of the civilian population will participate in the labor force. If the real wage is 170, some 85% will participate in the labor force. The general price level in this country is P = 100. The civilian population in this country is 100 million persons. Assume that wages and prices are fully flexible upwards and…Real Wage Number of Workers Demanded Labor Force Participation Rate 60 120,000,000 30% 70 110,000,000 35% 80 100,000,000 40% 90 90,000,000 45% 100 80,000,000 50% 110 70,000,000 55% 120 60,000,000 60% 130 50,000,000 65% 140 40,000,000 70% 150 30,000,000 75% 160 20,000,000 80% 170 10,000,000 85% Ignore everything that happened in the previous questions. We know that supply of labor can increase either because of an increase in labor force participation rate or an increase in civilian population. We saw the effect of the former above. This question is about the latter. The table above shows some pieces of information about the labor market condition in a country. It shows the number of workers demanded in the country at different levels of real wage. It also shows the labor force participation rates at those real wage levels. For example, if the real wage is 60, only 30% of the civilian population will participate in the labor force. If the real wage is…
- If the number of employed workers fell to 150 million and the working-age population increased to 300 million, what would the employment-population ratio be? --------- percentage? Typed and correct answer please.2007. 2. The data below shows the number of births, deaths, emigration and immigration for a countly m 200 Births 10,000 Deaths 3,000 Emigration 4,000 Immigration 7,000 If the total population at the beginning of the year was 104,000, calculate the (a) total population at the end of the year. (b) percentage increase in population for the year. (c) birth rate. (d) death rate. (e) net migration. (f) natural growth rate. 9.Total number of people who are currently working full time or part time a- labor force partition b- unemployment c- employment d- labor force
- Given the information in the table, what is the labor force participation rate? Catagory Less than 16 years old Full-time workers Full-time military Part-time workers A. 74.7% OB. 74.3% OC. 63.1% OD. 69.2% Institutionalized Looking for work Retired Number of people (millions) 40 135 1.2 20 14.8 11.5 41.5Number of adults 15,000 Number of adults who are paid employees 8,000 Number of adults who work in their own business 200 Number of adults who are unpaid workers in a family member's business 800 Number of adults who were temporarily absent from their jobs due to illness 300 Number of adults who were waiting to be recalled to a job from which they had been previously laid off 100 Number of adults who do not have a job, are available for work, and have tried to find a job within the past four weeks 900 Number of adults who do not have a job, are available for work, but have not tried to find a job within the past four weeks 400 Number of adults who are full-time students 1,600 Number of adults who are homemakers or retirees 2,500 Refer to the table. What was Lazonia's unemployment rate in 2015? 9.7% 6% 6.6% 8.8%987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part-Time workers 56 family workers who worked 15 hours a week 234 Self-Employed 6543 discouraged workers 67,432 (ages 23-25) looking for work 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5654 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized a. Using the following data calculate: (i) The Labour Force Participation rate. (ii) The “official” unemployment rate.
- 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part-Time workers 56 family workers who worked 15 hours a week 234 Self-Employed 6543 discouraged workers 67,432 (ages 23-25) looking for work 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5654 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized a. Using the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate.if the labor force is 250,000 and the total population 16 years of age or older is 300,000, the labor force participation rate is ?Real Wage 60 70 80 90 Number of Workers Demanded 120,000,000 110,000,000 100,000,000 90,000,000 100 80,000,000 110 70,000,000 120 60,000,000 130 50,000,000 140 40,000,000 150 30,000,000 160 20,000,000 170 10,000,000 Labor Force Participation Rate people will have jobs. 30% 35% 40% people will have jobs. 45% 50% 55% 60% 65% 70% 75% 80% Ignore what happened in the previous question. The table above shows some pieces of information about the labor market condition in a country. It shows the number of workers demanded in the country at different levels of real wage. It also shows the labor force participation rates at those real wage levels. For example, if the real wage is 60, only 30% of the civilian population will participate in the labor force. If the real wage is 170, some 85% will participate in the labor force. The general price level in this country is P = 100. The civilian population in this country is 100 million persons. Assume that wages and prices are fully flexible upwards…
