Fill in the blanks using the number that corresponds to the correct word or phrase in the word bank below: 1. percentage 2. unemployed 3. not in labor force 4. Census bureau 5. Total adult 6. Current Population Survey 7. BLS 8. lower 9. recession 10.4 weeks 11. higher 12. African American 13. Establishment Payroll Survey 14. unemployed 15. labor force The U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau of the Census, asks a series of questions to divide up the adult population into employed, unemployed, or 3 .To be classified as unemployed, a person must have actively looked for work in the previous 10 weeks before the survey. A person who does not have a job but has not actively looked for work in the last four weeks is counted as not in the 3 . Labor force is comprised of 2 plus employed. Labor force participation rate is the of adults in an economy who are either employed or who are unemployed and looking for a job. The rate is calculated by taking the number of people in the labor force, that is, divided by the population and multiplying by 100.

Household Employment Data (Numbers in billions)   Working age Population Labor Force Employed Unemployed October 2019 259.8 164.4 158.5 5.8 July 2020 260.4 159.9 143.5 17.8 October 2020 260.9 160.9 149.8 11.1 Source:  https://www.bls.gov/news.release/empsit.t01.htm   Let’s calculate labor force participation and the unemployment rate for October 2019.     X 100       Labor Force Participation Rate =     People in the Labor Force       Total Working Age Population X 100     = 164.4      259.8   = 0.6327 X 100   = 63.3%     X 100   Unemployment Rate = Unemployed People X 100                                                                  Total Labor Force                                                             =   5.8                                                                   164.4                                                                        = 0.0353 X…

Labor Force of an Economy Labor Force Number of People (millions) Employed 194.1 Structurally unemployed 5.3 Cyclically unemployed 4.1 Frictionally unemployed 4.1

Total number of people who are currently working full time or part time a- labor force partition b- unemployment c- employment d- labor force

The BLS survey found the numbers in the table for a small community. Calculate the unemployment rate and the labor force participation rate for this community. 1- The unemployment rate is ………percent. 2- The labor force participation rate is ….. percent.