ZuoTi.Pro
Question

I got the equation to use for unemployment rate but I need help with the rest....

I got the equation to use for unemployment rate but I need help with the rest.

In alphaland there are 275,000 employed; 25,000 were unemployed; and 100,000 were not in the labor force. Assume all citizens are adults. Use this information to calculate:
a. Adult population

b. Labor force

c. Labor force participation rate

d. Unemployment rate 6.25%

business   economics   
0 0
Add a comment Improve this question Transcribed image text
Next > < Previous
Sort answers by oldest

Homework Answers

Answer #1

Answer
a. Adult population
Adult population =employed +unemployed +not in labor force
=275000+25000+100000
=400000
b. Labor force
Labor force =employed +unemployed
=275000+25000=300000

c. Labor force participation rate
Labor force participation rate =(Labor force/ Adult population)*100
=(300000/400000)*100
=75%

d. Unemployment rate

Unemployment rate =(unemployed/labor force)*100
=(25000/300000)*100
=8.33333333
=8.33%

======
The unemployment rate is unemployed of the labor force and not population so the unemployment rate is 8.33%


0 0
Add a comment
Know the answer?
Add Answer to:
I got the equation to use for unemployment rate but I need help with the rest....
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for? Ask your own homework help question. Our experts will answer your question WITHIN MINUTES for Free.
Similar Homework Help Questions

  • 10. Measuring employment, unemployment, and tabor force participation

    10. Measuring employment, unemployment, and tabor force participationConsider a small economy composed of six people: Raphael, Susan, Alex, Becky, Eileen, and Clancy. Each person's employment status is described in the following table.Based on the criteria used by the Bureau of Labor Statistics (BLS), identify each person's status as employed, unemployed, "not in the tabor force" (if not in the civilian labor force but still part of the adult population), or "not in the adult population" if not in the civilian...

  • I need some help completing this exercise on unemployment and inflation and labor force participation In...

    I need some help completing this exercise on unemployment and inflation and labor force participation In an economy, the working-age population is 400 million. Of this total, 320.0 million workers are employed. 12.0 million workers are unemployed 56.0 million workers are not available for work (homemakers, full-time students, etc.) 8.0 million workers are available for work but are discouraged and thus are not seeking work 4.0 million workers are available for work but are not currently seeking work due to...

  • I need response to this question 1. Compute the unemployment rate in each year. U-rate in...

    I need response to this question 1. Compute the unemployment rate in each year. U-rate in Year 1 =100 x (7.2 / 120) = 6% U-rate in Year 2 = 100 x (6.7/119.5) = 5.6% 2. Compute the number of people employed in each year. People employed in Year 1 = 120 -7.2 = 112.8 million people employed in Year 2 = 119.5 - 6.7 = 112.8 million 3. Compute the labor force participation rate in each year. Labor force...

  • I need response to this question <1> unemployment rate in year 1 = (7.2 million/120 million)...

    I need response to this question <1> unemployment rate in year 1 = (7.2 million/120 million) x 100 = 6 percent unemployment rate in year 2 = (6.7 million/119.5 million)x100 = 5.6 percent <2> the number of people employed in year 1 = 120 million-7.2 million = 112.8 million the number of people employed in year 2 = 119.5 million-6.7 million = 112.8 million <3> the labor force participation rate in year 1 = (120 million/200million) x 100 = 60...

  • 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.

  • I need response to this question <1> unemployment rate in year 1 = 17.2 million/120 million)*100...

    I need response to this question <1> unemployment rate in year 1 = 17.2 million/120 million)*100 = 6 percent unemployment rate in year 2 = (6.7 million/119.5 million) x 100 = 5.6 percent <2> the number of people employed in year 1 = 120 million-7.2 million = 112.8 million the number of people employed in year 2 = 119.5 million-6.7 million = 112.8 million <3> the labor force participation rate in year 1 = (120 million/200million) x 100 = 60...

  • See the example from Table 8.1. Calculate the new labor force participation rate and unemployment rate...

    See the example from Table 8.1. Calculate the new labor force participation rate and unemployment rate if 700,000 people stopped seeking work. Total adult population over the age of 16 249.9 million In the labor force 157 million (62.8%) Employed 148.3 million Unemployed 8.7 million Out of the labor force 92.9 million (37.2%)

  • Calculating Unemployment Given the following information about a country’s population, answer the questions which foll...

    Calculating Unemployment Given the following information about a country’s population, answer the questions which follow. Make sure you show all of your calculations. 1987 1992. Non-institutionalized, civilian,           182,753,000                191,576,000 Adult population Employed persons                              112,440,000                117,598,000 Unemployed persons                          7,425,000                    9,384,000 What was the employment rate in 1992? __________ What was the labor force participation rate in 1987? ___________ What was the labor force participation rate in 1992? ___________ Explain how the unemployment rate can increase even if the...

  • 11 You, a grad student in economics, need to calculate the unemployment rate for our region,...

    11 You, a grad student in economics, need to calculate the unemployment rate for our region, state and the nation. Which one of the following you will use? You will divide the number of: Unemployed by the size of the population and multiplying by 100. Unemployed by the labor force and multiplying by 100. Unemployed by the percentage of the employed population and multiplying by 100.   Employed by the labor force and multiplying by 100.

  • then Use the data below to calculate the Unemployment Rate per country State the Unemployed without...

    then Use the data below to calculate the Unemployment Rate per country State the Unemployed without a decimal point. State the Unemployment rate to two decimal points and do not include a % sign. Country Adult Population Labor Force Employed Unemployed Unemployment Rate Japan 109.474 66,010 62,510 France 46,804 26,870 24,293 Germany 70,159 39,592 35,755 England 68.570 59,050 54,435

ADVERTISEMENT
Free Homework Help App
Download From Google Play
Scan Your Homework
to Get Instant Free Answers
Need Online Homework Help?
Ask a Question
Get Answers For Free
Most questions answered within 3 hours.
ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT