Below is a table with US labour market data (in thousands): 1998 Working-age population 205, 220 Population 276, 154 6, 204 Unemployed Employed 131,464 2008 233, 788 304, 543 8,948 145, 363 2018 257, 791 327, 436 6, 306 155, 761 a) Caculate the labour force participation rate for each period. b) Calculate the unemployment rate for each period. Based on the provided data, what might be a reasonable "guesstimate" of the natural rate of unemployment for the years between 2008 and 2018? c) For each period calculate the employment-population ratio.

Below is a table with US labour market data (in thousands): 1998 Working-age population 205, 220 Population 276, 154 6, 204 Unemployed Employed 131,464 2008 233, 788 304, 543 8,948 145, 363 2018 257, 791 327, 436 6, 306 155, 761 a) Caculate the labour force participation rate for each period. b) Calculate the unemployment rate for each period. Based on the provided data, what might be a reasonable "guesstimate" of the natural rate of unemployment for the years between 2008 and 2018? c) For each period calculate the employment-population ratio.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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