Consider the following data for an economy last year: Total population 383.52 million Part-time workers looking for full-time jobs 15.89 million Unemployed workers who are not actively searching for jobs 9.12 million Retirees and stay-home parents 18.15 million Unemployed workers who are actively searching for jobs 8.71 million Population under 16 years old and or institutionalized 62.25 million Unemployed full-time college students 69.68 million (a) With the data above, clearly show your steps and calculate the economy's official (i) labor force and (ii) unemployment rate.

Consider the following data for an economy last year: Total population 383.52 million Part-time workers looking for full-time jobs 15.89 million Unemployed workers who are not actively searching for jobs 9.12 million Retirees and stay-home parents 18.15 million Unemployed workers who are actively searching for jobs 8.71 million Population under 16 years old and or institutionalized 62.25 million Unemployed full-time college students 69.68 million (a) With the data above, clearly show your steps and calculate the economy's official (i) labor force and (ii) unemployment rate.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 1P

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The Current Population Survey reports the data for last month: 73 million people had full-time jobs. 10 million people had part-time jobs. 5 million people had no work but were available and had looked for work in the past four weeks. 36 million people of working age did not have jobs and did not want jobs. Calculate last month's labor force and working-age population. 3 tries left Last month, the labor force was was million. A. 98; 134 OB. 93; 124 OC. 88; 134 D. 88; 124 million and the working-age population
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a. The following table shows some labour characteristics for a sub-group of the Canadian population in 1981, 1986, 1999 and 2012 (Statistics Canada, Tables14-10-0287-01). The columns are the population of that sub-groups (Pop), the labour force (LF), the employment (E), the unemployments(U), the unemployment rate (UR), the participation rate (PR) and the employment rate (ER). The first four columns are in thousands of individuals and the last three in percentage. Fill the empty cells. Round your answers to the nearest first decimal using the same measurement units. Labour characteristics for a sub-group of the Canadian population in 1981, 1986, 1999 and 2012 (Statistics Canada, Table 14-10-0287- 01) Year 1981 1986 1999 Pop Number 1979 2205 2012 Number Number 2855 LF 876 879 Number 1883 E 839 818 Number Number U 37 61 55 Number UR Number 6.94 5.802 Number PR Number 39.864 Number 42.65 Number ER b. Using the above table, what is the new unemployment rate in 1986 if 20 thousand unemployed…
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