Real-Time Data Analysis Exercise The following table displays employment data from FRED*April, 2019. The values are...
Real-Time Data Analysis Exercise
The following table displays employment data from FRED*April, 2019. The values are in thousands of persons.
*Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.
Title Value
Unemployment 5,824
Civilian labor force 162,470
Employment level part-time for economic reasons 2,891
When employed individuals become unemployed, the civilian labor force
1. Falls
2. rises
3. does not change
Please show the calculations.
Homework Answers
Civilian labor force = 162,470 i.e., Employment + Unemployment = 162,470
Now unemployment = 5,824
Therefore employment = 162,470 - 5,824 =156,646
Civilian Labor Force is the sum of civilian employment and civilian unemployment.
when employed individuals become unemployed the number of employed and unemployed will be changed. However, the total number of civilian labor force does not changed.
Therefore the answer is option 3.
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