Number unemployed 1,000,000 1,500,000 2,50 a. Define labor force. For each year find the labor force b. Define the labor-force participation rate. Calculate it for each year c. Calculate the unemployment rate for each year.

20. The economy is fully employed when there is no: cyclical unemployment seasonal unemployment structural unemployment frictional unemployment

Suppose th ent prium wage in a certain labor market is $18 per hour. Michelle is curren not employed, but seeking work in that same market and willing to work for $18 per hour. After 5 weeks of searching, Michelle still has not found a job. What would economists say about Michelle's situation? Select the correct answer below: Michelle is involuntarily unemployed. Michelle is voluntarily unemployed. Michelle is not in the labor force. Michelle's situation is an example of frictional unemployment. FEEDBACK

The table gives information reported by the Bureau of Labor Statistics for February, 2013. What is the labor force participation rate? The labor force participation rate is >>> Answer to 1 decimal place. percent. C Item Employment Unemployment Not in the labor force Millions 143 12 90