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

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

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter21: Unemployment

Section: Chapter Questions

Problem 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...

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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.
If you an? out of school but working part time, are you considered employed or unemployed in U.S. labor statistics? If you are a full time student and working 12 hours a week at the college cafeteria are you considered employed or not in the labor force? If you are a senior citizen who is collecting social security and a pension and working as a greater at Wal-Mart are you considered employed or not in the labor force?
What criteria do the BLS use to count someone as employed? As unemployed?
Are U.S. unemployment rates distributed evenly across the population?
Describe a situation, either a government policy situation, an economic problem, or a private sector situation, where using the GDP deflator to convert from nominal to real would be more appropriate than using the CPI.
Which of the following statements are TRUE? Explain why. 1. Someone who has been laid off for eight weeks due to COVID-19 and is not looking for work since they are waiting to be called back to their old job in two months would be counted as not in the labour force by Statistics Canada. 2. Someone who is working part time but would prefer to work full time is counted by Statistics Canada as employed. 3. Someone who is out of work but has given up looking for work is counted by Statistics Canada as not in the labour force. 4. The Canadian working-age population consists of individuals 16 years of age and over.
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.
Assume the total population is 3500. Of the total population, 1800 are working full-time. Of the not-working population, 1000 are under 16 years of age, 350 are full-time/not-working college students, 50 were retired, 150 had stopped looking for work because they think there were no jobs for them, and 150 are diligently looking for work. 6. Calculate # of non-labor force. 7. Calculate the unemployment rate (%). 8. Assuming "discouraged labor" is considered "unemployed," calculate the unemployment rate (%). -----. -----------
Assess whether the following would be counted as “unemployed” in the Current Employment Statistics survey. a. A husband willingly stays home with children while his wife works. b. A manufacturing worker whose factory just closed down. c. A college student doing an unpaid summer internship. d. A retiree. e. Someonewhohasbeenoutofworkfortwoyears but keeps looking for a job. f. Someone who has been out of work for two months but isn’t looking for a job. g. Someone who hates her present job and is actively looking for another one. h. Someone who decides to take a part time job because she could not find a full time position.
1) Consider the following labour market data.Adult Population 150Not in Labour Force 50Unemployed 30Calculate the number of employed, the labour force, the percentage of people not in the labour force, the rate ofunemployment, and the labour force participation rate.
The table below provides employment and labour force data for a small economy over a 3-month period. Stock of Unemployment Stock of Stock of outside the Total Population Employment 2,530,000 2,470,000 2,410,000 Labour Force Sept. 1 Oct. 1 Nov. 1 120,000 120,000 120,000 350,000 410,000 470,000 3,000,000 3,000,000 3,000,000 a. What is the unemployment rate on September 1, October 1, and November 1? b. Explain why the unemployment rate changes even though the stock of unemployment remains stable. c. Provide a likely explanation for the change in this economy's labour force. In this case, is the unemployment rate an accurate measure of the amount of slack (excess supply) in the labour market? a. The unemployment rate on September 1 is %. (Round your response to two decimal places.)
The labor force participation rate shows the percentage of thelabor force that has a job. labor force that is unemployed. relevant population that is employed. relevant population that is in the labor force.