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During recessions, the official unemployment rate may not adequately reflect the true state of workers in...
During recessions, the official unemployment rate may not adequately reflect the true state of official unemployment...
During recessions, the official unemployment rate may not adequately reflect the true state of official unemployment rate and percentage of unemployed, underemployed, and discouraged w Total percentage of the labor force who are either Official unemployment unemployed, underemployed rate or discouraged workers. 5.5% 8.4% Using the data above, calculate the percentage of discouraged and underemployed workers Percentage of discouraged workers and underemployed workers:
What is the formula used to calculate the official unemployment rate?
What is the formula used to calculate the official unemployment rate?The number in the labor force divided by the population. The number of discouraged workers divided by the number of civilian workers. The number of unemployed workers divided by the sum of employed and unemployed workers.
Please calculate the unemployment rate, the employment rate, and the labor force participation rate given the...
Please calculate the unemployment rate, the employment rate, and the labor force participation rate given the following information. Round to two decimal places. Total Population: 280,270,378 Homemakers: 18,874,567 Retired: 24,687,155 Labor Force: 225,314,672 Under the Age of 16: 30,799,600 Discouraged Workers: 9,678,228 Unemployed: 31,482,365 Underemployed: 5,977,312
5. Find the labor force participation rate and unemployment rate given the following information about an...
5. Find the labor force participation rate and unemployment rate given the following information about an economy: Population (working age) 120 Labor Force 80 PLEASE JUST ANSWER THE QUESTION 6. # Employed 70 Assume in the problem above 5 of the unemployed became discouraged workers. Calculate new official unemployment rate in this economy. Comment on your finding.
Question 15 1 pts Official unemployment is identified as when: a worker leaves her job to...
Question 15 1 pts Official unemployment is identified as when: a worker leaves her job to attend school full-time. O a worker who is not currently employed is searching for a job unsuccessfully. O a worker retires from her job. a worker who is not currently employed stops searching for a job because she feels there is no job available for her. a worker who is not currently employed stops searching for a job. Question 16 1 pts The main...
Q2. From the data below, answer the following questions. Show your work. Working-age population 250 million...
Q2. From the data below, answer the following questions. Show your work. Working-age population 250 million Not in Labor Force 85 million Discouraged workers 2 million Involuntary part-time workers 8 million Unemployed 15 million Employed 150 million a. Compute the labor force participation rate. (2pts) b. Compute the official unemployment rate (U-3). (2pts) c. Suppose that 2 million jobless people (i.e., unemployed) suddenly quit looking for a job. How does it affect the labor force participation rate and the official...
Data on the unemployment rate for workers aged 16–19 and for workers aged 20 and over...
Data on the unemployment rate for workers aged 16–19 and for workers aged 20 and over is listed in the table below. How do they differ? Unemployment rate (percent) Both sexes, 16–19 years 13.9 Men, 20 years and over 3.9 Women, 20 years and over 3.6 Source: The Bureau of Labor Statistics (www.bls.gov), January 2018. Workers aged 16–19 have unemployment rates that are (Click to select) the same as higher than lower than adult (above 20) unemployment rates. The reason for this is younger workers...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks a) Can you calculate the employment rate given the information above? Explain. b) Calculate the unemployment rate before,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks Can you calculate the employment rate given the information above? Explain. Calculate the unemployment rate before, and after,...
Q1. How does Structural Unemployment explain current trends in Labor Force Participation rates? What is the...
Q1. How does Structural Unemployment explain current trends in Labor Force Participation rates? What is the role of outsourcing and how does it fit with the U.S. economy becoming a “service’ economy? Q2. Explain how “discouraged workers” (unemployed workers leaving the labor force) lower the official unemployment rate. ‘Real’ wages being stagnant, what does the low unemployment rate mean? Q3. Describe the economic impact of the Covid-19 pandemic in terms of globalized supply chains. Mention particular sectors and industries that...
During recessions, the official unemployment rate may not adequately reflect the true state of official unemployment rate and percentage of unemployed, underemployed, and discouraged w Total percentage of the labor force who are either Official unemployment unemployed, underemployed rate or discouraged workers. 5.5% 8.4% Using the data above, calculate the percentage of discouraged and underemployed workers Percentage of discouraged workers and underemployed workers:
Question 15 1 pts Official unemployment is identified as when: a worker leaves her job to attend school full-time. O a worker who is not currently employed is searching for a job unsuccessfully. O a worker retires from her job. a worker who is not currently employed stops searching for a job because she feels there is no job available for her. a worker who is not currently employed stops searching for a job. Question 16 1 pts The main...
Q2. From the data below, answer the following questions. Show your work. Working-age population 250 million Not in Labor Force 85 million Discouraged workers 2 million Involuntary part-time workers 8 million Unemployed 15 million Employed 150 million a. Compute the labor force participation rate. (2pts) b. Compute the official unemployment rate (U-3). (2pts) c. Suppose that 2 million jobless people (i.e., unemployed) suddenly quit looking for a job. How does it affect the labor force participation rate and the official...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks a) Can you calculate the employment rate given the information above? Explain. b) Calculate the unemployment rate before,...
3. Consider an economy that initially has a labor force of 4000 workers. Of these workers, 3000 are employed . The economy enters a recession. The total number of employed workers falls by 10%, and in addition 1% of the labour force become discouraged at the prospect of finding a job and stop searching for a job for more than 4 weeks Can you calculate the employment rate given the information above? Explain. Calculate the unemployment rate before, and after,...
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