2. the table below reports labor market data in the U.S in June 2009 (the end...
2. the table below reports labor market data in the U.S in June 2009 (the end of the last recession) and June 2016. the members are reported in millions of people. use the information in the table to answer the questions below. Enter your answer to two decimals places.
| june 2009 | june 2016 | |
| labor force | 155 | 159 |
| unemployed | 15 | 8 |
| discouraged workers | 8 | 5 |
| work eligible population | 235 | 253 |
Part 1: from june 2009 to june 2016, the unemployment rate fell from ______% to ______%.
Part 2: if discouraged workers were included, the unemplyment rate would have been ____% in june 2009 and ____% in june 2016.
Part 3: from june 2009 to june 2016 the labor force participation rate fell from ____% to ____%.
7. you have been hired to determine if unemploment is running too high. First you must determine the natural rate of unemployment. You have been prvided the data in the table below.
|
frictional unemployment |
structural unemployment |
cyclical unemployment |
| 2% | 1% | 1% |
using the data above, determine the natural rate of unemployment.
the natural rate of unemploment is _____%.
Homework Answers
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2. the table below reports labor market data in the U.S
in June 2009 (the end...
3. The table below shows unemployment and labor force statistics for an economy. Actual rate of...
3. The table below shows unemployment and labor force statistics for an economy.Actual rate of unemployment3%Natural rate of unemployment4%Population of the country125mitlonNumber of people employed97miltionNumber of people unemployed3 millionNumber of people employed part-time5 millionNumber of discouraged workers2 milliona. Calculate the size of the labor force.b. Calculate the labor force participation rate. Show your work.c. Given the state of the economy described in the table, is actual real output less than, greater than, or equal to potential real output? Explain.d. Calculate...
3. The table below shows unemployment and labor force statistics for an economy.
3. The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part time 5 million Number of discouraged workers 2 million e. Suppose discouraged workers reenter the labor force and find employment. Will the actual rate of unemployment increase, decrease, or stay the same?
The table below shows labor market statistics for a nation. 3 million Number of Workers Structurally...
The table below shows labor market statistics for a nation. Number of Workers Structurally Unemployed Number of Workers Cyclically Unemployed Number of Workers Frictionally Unemployed Number of Workers Officially Classified as Employed Working-age Population What is the nation's unemployment rate?Which of the following unemployed individuals represents frictional unemployment? (A) Marissa, a full-time student who plays on the school's soccer team. (B) Janet, an accounting graduate who is interviewing with a number of accounting firms. (C)Sameer, a retired faculty member who volunteers at the local hospital. (D) Jeremy, a customer service...
The Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the...
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1) The table below lists the number of people by labor force classification for the country...
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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...
A group of 10 people includes 3 retirees, 2 part-time workers, 2 discouraged workers, 1 unemployed worker, and 2 full-ti...
A group of 10 people includes 3 retirees, 2 part-time workers, 2 discouraged workers, 1 unemployed worker, and 2 full-time workers. If the discouraged workers in this group became active job searchers, the: unemployment rate would fall. labor force participation rate would fall. unemployment rate and the labor force participation rate would rise. unemployment rate and the labor force participation rates would both fall.
You have been asked by the king of the small island nation of Littleston to present the labor force data listed below.
You have been asked by the king of the small island nation of Littleston to present the labor force data listed below. Number of employedWorking-age populationLabor force20,00040,00032,000 Using this data, calculate the number of unemployed people, the unemployment rate, and the labor force participation rate.Enter your answers in the table below. (Give all answers to two decimals.)Number of unemployed peopleUnemployment rateLabor force participation rate % %
The table below provides some labor statistics for years 1995, 2000 a table, please respond the...
The table below provides some labor statistics for years 1995, 2000 a table, please respond the questions below 2. nd 2005. Using the Variable 1995 2000 2005 Population Adult population Adult population able to 26,000,000 27,000,000 28,000.000 18,000,000 19,000,000 20,500.000 18,800,000 20,000.000 17.900.000 work Adult population able 15,700,000 16,500,000 18,000,000 and wanting to work Number employed Number unemployed 14.000,000 14,500,000 15,000,000 1.000.000 1,500,000 2.500,000 a) Define labor force. For each year find the labor force. Define the term "discouraged workers"....
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 workers in the labor market. Data on the official unemployment rate and percentage of unemployed, underemployed, and discouraged workers are provided below. Official unemployment rate Total percentage of the labor force who are either unemployed, underemployed, or discouraged workers 8.4% 5.5% Using the data above, calculate the percentage of discouraged and underemployed workers. Percentage of discouraged workers and underemployed workers: % Unemployment and the Labor Force...
The table below shows labor market statistics for a nation. Number of Workers Structurally Unemployed Number of Workers Cyclically Unemployed Number of Workers Frictionally Unemployed Number of Workers Officially Classified as Employed Working-age Population What is the nation's unemployment rate?Which of the following unemployed individuals represents frictional unemployment? (A) Marissa, a full-time student who plays on the school's soccer team. (B) Janet, an accounting graduate who is interviewing with a number of accounting firms. (C)Sameer, a retired faculty member who volunteers at the local hospital. (D) Jeremy, a customer service...
The Bureau of Labor Statistics (BLS) adjusts the numbers from the household survey to estimate the employment picture for the entire population. Once the adjustment is made, the BLS uses the figures to generate key employment indicators.The following table presents information from the household surveys conducted for November 2017 and, for purposes of comparison, November 2016 . The numbers in the table are listed in thousands. For example, the number of unemployed in the table for November 2017 indicates that...
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The table below provides some labor statistics for years 1995, 2000 a table, please respond the questions below 2. nd 2005. Using the Variable 1995 2000 2005 Population Adult population Adult population able to 26,000,000 27,000,000 28,000.000 18,000,000 19,000,000 20,500.000 18,800,000 20,000.000 17.900.000 work Adult population able 15,700,000 16,500,000 18,000,000 and wanting to work Number employed Number unemployed 14.000,000 14,500,000 15,000,000 1.000.000 1,500,000 2.500,000 a) Define labor force. For each year find the labor force. Define the term "discouraged workers"....
During recessions, the official unemployment rate may not adequately reflect the true state of workers in the labor market. Data on the official unemployment rate and percentage of unemployed, underemployed, and discouraged workers are provided below. Official unemployment rate Total percentage of the labor force who are either unemployed, underemployed, or discouraged workers 8.4% 5.5% Using the data above, calculate the percentage of discouraged and underemployed workers. Percentage of discouraged workers and underemployed workers: % Unemployment and the Labor Force...
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