Homework Answers
ANSWER:
Let the unemployment be x.
Labor force = unemployment + employment = x + 19,394,700
Unemployment rate = (no of unemployment / labor force)
8% = x / (x + 19,394,700)
0.08 * (x + 19,394,700) = x
0.08x + 1,551,576 = x
x - 0.08x = 1,551,576
0.92x = 1,551,576
x = 1,551,576 / 0.92
x = 1,686,496
so the no of unemploymed person are 1,686,496
labor force = no of unemployed + no of employed = 1,686,496 + 19,394,700 = 21,081,196
labor force participation rate = labor force / population
67.1% = 21,081,196 / population
population = 21,081,196 / 67.1%
population = 31,417,579
employment - population ratio = employment / population = 19,394,700 / 31,417,579 = 0.61732 or 61.732%
so the employment - population ratio is 61.732%
Add Answer to:
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the table of data collected in a labour force survey in October
2015 for a particular region.
(Round your responses for unemployment and labour force to the
nearest whole number. Round your response for employment
cash–population ratio to one decimal place.)
Value 19,321,300 Working Age Population Employment Unemployment Unemployment rate Labour force Labour force participation rate Employment-population ratio 9.0% 65.0%
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