ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN: 9780190931919
Author: NEWNAN
Publisher: Oxford University Press
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The 2018 Q2
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The unemployment rate is the rate that shows the proportion of unemployed people in the total labor force of a country. Unemployed people are those who are not able to find jobs when they are looking for it.
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- The ABS reported that in September 2007, a cycle peak, the working-age population was16,808,200, the labour force was 10,979,300, and employment was 10,514,600. Calculate forthat quarter the labour force participation rate and the unemployment rate.(3.5 + 3.5 = 7 marks)arrow_forwardTotal Civilian Population= 340 million Employed Workers= 123 million People not looking for work= 48 million People incapable of work= 23 million. Calculate the unemployment rate.arrow_forwardIn an economy, the working-age population is 100 million. Of this total, 75 million workers are employed. 4 million workers are unemployed. 16 million workers are not available for work (homemakers, full-time students, etc.). 3 million workers are available for work but are discouraged and thus are not seeking work. 2 million workers are available for work but are not currently seeking work due to transportation or childcare problems. The unemployment rate in this economy is%. (Round your answer to one decimal place.)arrow_forward
- The population of Tavua is 24,171 people. There are 16,894 people who are currently working, and 1,434 people who qualify as unemployed. What is Tavua's unemployment rate? Put your answer in percentage form (e.g. 30.51 not 0.3051) and then round to two decimal places.arrow_forwardThe table below uses data for the year 2003 provided by the Bureau of Labor Statistics and adjusted to be comparable to U.S. data. All values are in thousands. Fill in the blank entries in the table. Adult Labor Population Force, Country Japan 109,474 France 16,870 Germany 70,159 $9,591 Labor-Force Unemployment articipation Rate Rate Employed Unemployed 62,510 3,500 2,577 9.69 57.41arrow_forwardThe BLS reported that in June 2019, the labor force was 163.0 million, employment was 157.0 million, and the working-age population was 259.1 million. The BLS also reported that 17.3 percent of all employment in June 2019 was part time and that 4.3 million people worked part time for economic reasons. How many people worked part time for noneconomic reasons?arrow_forward
- Country A has a total population of 100 million, of which 80 percent are adults (and hence are capable of working). Assume that 25 percent of the adult population are not looking for a job.Among the remaining adult population who are participating in the labor force, 50 percent are employed, 8% are frictionally unemployed, and 2% are structurally unemployed. Compute thenumber of cyclically unemployed workersarrow_forwardThe Australian Bureau of Statistics recently reported a change in unemployment rate from 5.2% to 6.2%.With your understanding of unemployment, underemployment and others, do you believe this change is reflective of the employment situation in Australia? Discussarrow_forwardTo be officially unemployed a person must: Select one: reach 21 years of age or older. be in the labour force. be waiting to be called back from a layoff. have just lost a job. a foreigner.arrow_forward
- Given the numbers in the table, what is the unemployment rate, in percent? (Assume everyone is included in one of the categories.) Round to one decimal place and do not enter the % sign. If your answer is 6.14%, enter 6.1. If your answer is 6.15%, enter 6.2. If appropriate, remember to enter the sign. Category Working Full Time Working Part Time Not Working, Searching for a job Not Working&Not searching for a job; <65 years old Not Working & Not Searching: Full Time Student 15 years old Not Working & Not Searching: Full Time Student 15 years old Not Working, Retired (not searching) 11.1 Number 350 50 50 30 80 20 100arrow_forwardno handwritten notesarrow_forwardThe Australian Bureau of Statistics(ABS) reported in May2017 that the civilian population in Australia over 15 years of age was 20.8 million.Of this population of 20.8 million Australians, 13.5 million were employed and 0.7 million were unemployed. What will be Australia’s labor force and the number of people in the civilian population who were not in the labor force? Also, with examples examine the causes of structural unemployment in Australia. Thanksarrow_forward
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