Population: 350 million Working-age population: 250 million Labor Force: 150 million Number of people Employed: 135 million The unemployment rate for this economy is %, and the labor force participation rate for this economy is %.

A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.

What is frictional unemployment? Give examples of frictional unemployment.

Between January 2012 and January 2019,U.S. employment increased by 17.3 million workers,but the number of unemployed workers declined byonly 6.3 million. How are these numbers consistentwith each other? Why might one expect a reductionin the number of people counted as unemployed tobe smaller than the increase in the number of peopleemployed?

Assess whether the following would be countedas “unemployed” in the Current Employment Statisticssurvey.a. A husband willingly stays home with childrenwhile his wife works.b. A manufacturing worker whose factory justclosed down.c. A college student doing an unpaid summerinternship.d. A retiree.e. Someone who has been out of work for two yearsbut keeps looking for a job.f. Someone who has been out of work for twomonths but isn’t looking for a job.g. Someone who hates her present job and isactively looking for another one.h. Someone who decides to take a part time jobbecause she could not find a full time position.

E3

Consider an economy with 500 people in the labor force. At the beginning of every month, 5 people losetheir jobs and remain unemployed for exactly one month; one month later, they find new jobs andbecome employed. In addition, on January 1 of each year, 20 people lose their jobs and remainunemployed for six months before finding new jobs. Finally, on July 1 of each year, 20 people lose theirjobs and remain unemployed for 6 months before finding new jobs.1. What is the unemployment rate in this economy in a typical month?2. What fraction of unemployment spells lasts for one month? What fraction lasts for six months?3. What is the average duration of completed spell of unemployment?4. On a particular date, what fraction of the unemployed are suffering a long spell (six months) ofunemployment? plz solve part 4 ? Thanks.

Next C Which statement correctly describes the U.S. labor force participation rate? The U.S. labor force participation rate O A. increased from 59 percent in 1960 to 67 percent in 1999 B. for women is higher than the female labor force participation rates in Canada and the United Kingdom O C. has a downward trend that is mainly accounted for by the decreasing participation of women in the labor market D. is calculated as the percentage of the working-age population who are employed 888

a) Determine the magnitude of the labour force in the economy?b) What is the Unemployment Rate for people aged 21 – 50? Report as apercentage to two decimal places. c) Calculate the Labour Force Participation Rate for this economy. Report aspercentage to two decimal places. d) Calculate the Unemployment Rate for this economy. Report as a percentage to two decimal places.e) Calculate the Employment Population Ratio for this economy. Repot as apercentage to two decimal places.f) For this part, assume that nothing changed with respect to the population, i.e. those who were working kept their jobs and those who were looking for jobs kept looking for jobs. For answering below questions choose between (will rise/will decrease/remains same) A. A baby is born.i) Unemployment Rate will……………………..ii) Labour Force Participation Rate will………….iii) Employment – Population Ratio will………….B. John, 35 years old, was discouraged by the poor job opportunities, sohe was not working and not looking for a…

The ABS reported that in September 2007,a cycle peak,the working-age population was 16,808,200 ,the labour force was 10,979,300 and employment was 10,514,600.calulate for that quarter the labour force participation rate and unemployment rate