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using the data below calculate
4. the labour force participation rate
5. the official employment rate
currently working | 23,000 volunteer workers |
9845(ages 13-14) looking for work | 12,000 (ages 15)looking for work |
45,600 Part-time workers | 56 family workers who worked 15 hrs a week |
234 self-employed | 6543 discouraged workers |
67,432(ages 23-25)looking for work | 67,890 laid off receptionists looking for work |
544,321(ages 16-20) looking for work) | current population is 6,000,000 |
5654 Temp workers | 5000 armed forces |
543 recent university graduatesthat are going back to graduate school | 3500 institutionalized |
Step by step
Solved in 3 steps
- Imagine someone is working part time but would like to be working full time, or working in a job that is not fully using the person’s skills. In your opinion is listing this person as employed a serious flaw in the way employment statistics are gathered and reportedCan you define workforce participation rate?Given the information in the table, what is the labor force participation rate? Catagory Less than 16 years old Full-time workers Full-time military Part-time workers A. 74.7% OB. 74.3% OC. 63.1% OD. 69.2% Institutionalized Looking for work Retired Number of people (millions) 40 135 1.2 20 14.8 11.5 41.5
- What is the labor force participation rate? Not in labor force 76.0 million The labor force participation rate is percent. Labor force 147.4 million >>> Answer to 1 decimal place. Employed 139.3 million EGO B88888888881. Using the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part-Time workers 56 family workers who worked 15 hours a week 234 Self-Employed 6543 discouraged workers 67,432 (ages 23-25) looking for work 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5654 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate.987,156 Currently Working 9845 (ages 13-14) looking for work 45,600 Part-Time workers 234 Self-Employed 67,432 (ages 23-25) looking for work 544,321 (ages 16-20) looking for work 5654 Temp Workers 543 recent university graduates that are going back to graduate school 23,000 volunteer workers 12,000 (ages 15) looking for work 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 67,890 laid off receptionists looking for work Current population is 6,000,000 5000 armed forces 3500 institutionalized Suppose that 20,000 of the employed switches to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not working and not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the "true" unemployment rate
- 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 populationwhat is the main difference between employment and unemployment?explain Employment Structure
- Which individual is out of the labor force? John is without a job, is able to work, but is not actively looking for work. Matthew is working 40 hours per week. Mary is without a job, is able to work, and is actively looking for work. Emily is working 6 hours per week.Fill in the blanks using the number that corresponds to the correct word or phrase below Labor statistics Labor force participation rate underemployed Percentage or rate census Not in the Labor force Discouraged workers An individual with a college degree in finance who is working as a sales clerk would be considered . Those who have stopped looking for employment and, hence, are no longer counted in the unemployed are classified as . The percentage of adults in an economy who are either employed or who are unemployed and looking for a job is called Unemployment is calculated as a The Bureau of tracks and reports all data related to unemployment. Children should be counted as Those who have quit looking fo a job, often due to being discouraged by their inability to find suitable employment are counted as The U.S. unemployment rate, which is based on a monthly survey carried out by the U.S. Bureau.These refer to the percentage of people who do not have a job and are not looking for a job a. Out of labor force b. Labor force c. Unemployed d. Employed