To classify:
The individuals into labor market category used by the BLS, and mention whether the workers are part-time or full-time and also mention which part time worker is doing job for economic reasons.
Explanation of Solution
Household 1: Ms. C is working part time because she has worked less than 35 hours a week. She is also looking for a job as she has attended two job interviews also. Mr. J is working full time as he is working more than 35 hours a week. Ms. M is a student and is working part time, 10 hours a week, to meet her daily living expenses and pay her college fees.
Household 2: Mr. J is working full time but was on vacation for one week. Whereas, his wife, Mrs. S is currently working part time and also looking for a full time job. She is working part time until she finds a full time job.
Household 3: Ms. A is working full time and his partner Ms. K did not find job, so she left the labor force and joined school to complete her education. This will improve her resume and her chance of getting a job after completing school will increase.
Household 4: M and H are retired so they are out of labor force. While, their son H is working part time as he is working less than 35 hours per week. He is working part time to earn his livelihood.
Part time job:
A person who works less than 35 hours a week is said to be doing a part time job. This job is basically done to earn extra income.
Full time workers:
The workers who work for more than 35 hours a week are said to be full-time workers. People do full time job to earn money on a salary basis.
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Chapter 22 Solutions
Foundations of Economics (8th Edition)
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- Calculate Labor Force Participation Rate Total Population: 500,270,378 Homemakers: 12,874,567 Retired: 42,687,155 Labor Force: 425,314,672 Under the Age of 16: 17,322,654 Discouraged Workers: 37,678,228 Employed: 399,482,365 Underemployed: 14,977,312arrow_forwardQ. 1. Use economic reasoning (economic theory) to explain why the labor force participation rate for married women and never-married women might differ.arrow_forwardExplain the fact that from 1900 to 2009 the female labor force participation rate increased from 20.6% to 59.2 %. Use reservation wage and technological advancement in your explanationsarrow_forward
- Category Number of Persons Part Time Employees 30 million People Looking for Work in the last 4 weeks and Have not Worked in the Last Week 9.2 million Full Time Employees 101 million Retirees 15.8 million Full Time Students 13 million Workers that haven't looked because they are marginally attached 4.9 million Workers that haven't looked because they are discouraged 4.1 million Assume the table above includes the population of all individuals age 16 or older in this country. What is the labor force participation rate (as a percentage, but omit the % sign, rounded to the nearest tenth)? Note:- Please give me proper calculation with correct answer otherwise i give downvote Please avoid using ChatGPT and refrain from providing handwritten solutions; otherwise, I will definitely give a downvote. Also, be mindful of plagiarism. Answer completely and accurate answer. Rest assured, you will receive an upvote if the answer is accurate.arrow_forwardThe members of the parliament want to know why labour force participation ratesfor womenin the 25-34 and 35-49 age groups are lower than the labour force participation rates for men.Use economic theory to explain the reasons behind these differences.arrow_forwardusing 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 institutionalizedarrow_forward
- If the employmentminus−population ratio in 2017 was at the same level as it was in 2006 A. the same number of people would have been working in 2017 as were working in 2006. B. an additional 8 million people would have been working in 2017 than actually were. C. 3.5 million fewer people would have been working in 2017 than actually were. D. the number of employed people in 2017 would not have been different.arrow_forwardThe accompanying table provides data on the size of the labour force and the number of unemployed workers for the provinces and territories of Canada. Labour force (thousands) Unemployed (thousands) Province/Territory January 2019 January 2020 January 2019 January 2020 Alberta 2,497.6 2,500.1 169.8 181.7 British Columbia 2,672.5 2,664.5 125.3 118.8 Manitoba 696.1 696.7 38.6 35.7 New Brunswick 387.0 390.1 31.4 29.2 Newfoundland and Labrador 262.2 252.5 29.9 30.0 Northwest Territories 23.0 22.6 1.9 1.9 Nova Scotia 499.2 504.5 33.6 37.2 Nunavut 16.5 15.9 2.4 2.1 Ontario 7,797.7 7,973.6 448.6 415.3 Prince Edward Island 83.6 86.8 8.0 6.5 Québec 4,547.1 4,597.2 242.9 232.7 Saskatchewan 610.9 617.5 34.1 37.3 Yukon 22.2 22.2 0.9 1.1 Data from: Statistics Canada. Calculate the number of workers employed in each province and territory in January 2019 and in January 2020. Use your answer to calculate the change in the total number of workers employed between January 2019 and January 2020. For…arrow_forwardPopulation in 2021: 330 million Employed in 2021: 152 million Unemployed in 2021: 8 million Ham consumed 2020: 2000 Price of ham 2020: $4 Population 16+ in 2021: 200 million Members of military 2021: 1 million Discouraged workers in 2021: 2 million Cheese consumed 2020: 500 GDP in 2021:$990 billion CPI in 2020 base year 2010:110 Price of cheese in 2020: $2 Using the data in table above, the labor force participation rate in 2021 is: 46.1% 48.5% 76% 80% None of the abovearrow_forward
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