Question

The table below shows the population and employment data for Gilead, a country with a total population of 1 million people. An questions to 2 decimal places (for example: 5.64) Status # of people Children (0-16 years old) 200,000 Employed 325,000 Unemployed 25,000 Discouraged adult workers 50,000 Full-time students over 16 100,000 Retired individuals 100,000 Stay-at-home parents 100,000 Non-civilians (employed by armed forces) 60,000 Institutionalized Individuals 40,000 What is Gilead's Unemployment rate? %5 What is Gilead's Labor Force Participation rate?

Answer 1

a) Unemployment rate =(Number of unemployed/labor Force)*100

Labor Force: Employed + Unemployed.

Employed = 325,000

Unemployed= 25,000

Labor Force = 325,000 + 25,000 = 350,000

Unemployment rate = (25,000/350,000) x100 = 71.43%

b)

Labor Force Participation Rate (LFPR)

LFPR = Labor Force / Civilian Non-Institutionalized Population

Civilian noninstitutional population refers to people 16 years of age and older who are not inmates of institutions and who are not on active duty in the Armed Forces.

Population is 1,000,000

Less Children < 16 years = 200,000

Less Non civilians in the armed forces = 60,000

Institutionalized individuals = 40,000

Civilian noninstitutional population = 1,000,000 -( 200,000 + 60,000 + 40,000) = 1,000,000 - 300,000 = 700,000.

LFPR = (350,000 / 700,000 ) x 100= 50%.