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4) Fill in the missing values. Labor Force Employed 146028 146057 146320 Unemployed 7116 6927 Unemployment...
macroeconomic Macroeconomics HW 6 Unemployment 1. How would you classify the labor-force status (employed, unemployed, not...
macroeconomic
Macroeconomics HW 6 Unemployment 1. How would you classify the labor-force status (employed, unemployed, not in LF) of the following? a. A bank manager who is currently not working because she took a year off to take care of a newborn child. b. A 14 year old who works 10 hours per week at Six Flags. c. A 16-year-old who is doing 20 hours per week of unpaid work in his father's business. d. An auto worker whose union...
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?
Consider the following data for an economy in 2018: Full-time employed workers Part-time employed workers Unemployed...
Consider the following data for an economy in 2018: Full-time employed workers Part-time employed workers Unemployed workers but discouraged from job search Unemployed workers but actively seeking jobs Employed workers in the underground 85 million 20 million 5 million 12 million 7 million economy Retirees, full-time students, and stay- home parents 8 million (a) With the data above, clearly show your steps and calculate the economy's unemployment rate. (b) Briefly discuss three (3) criticisms or shortcomings of the United States'...
1. In December 2005, the BLS estimated there were 7.4 million unemployed, 142.8 million employed (including...
1. In December 2005, the BLS estimated there were 7.4 million unemployed, 142.8 million employed (including 2.8 million involuntary part-time workers), 451,000 discouraged workers and 4.8 million people (including discouraged workers) who were marginally attached to the labor force. a. Calculate the headline (U-3) unemployment rate for December 2005. b. Calculate the unemployment rate for December 2005 if it had included among the unemployed all officially discouraged workers. c. Calculate the unemployment rate if it had included all those who...
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...
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.
Refer to the table below: Year Unemployment Rate Labor Force (in thousands) 2000 4.0 142,583,000 2001 4.7 143,734,000 20...
Refer to the table below: Year Unemployment Rate Labor Force (in thousands) 2000 4.0 142,583,000 2001 4.7 143,734,000 2002 5.8 144,863,000 2003 6.0 146,510,000 2004 5.5 149,401,000 2005 5.1 149,320,000 2006 4.6 151,428,000 2007 4.6 153,124,000 2008 5.8 154,287,000 2009 9.3 154,142,000 2010 9.6 153,889,000 2011 8.5 153,617,000 2012 7.9 154,995,000 2013 6.7 155,389,000 2014 6.2 155,922,000 2015 5.3 157,130,000 2016 4.9 159,187,000 Instructions: In part a, enter your response rounded to one decimal place. In part b, enter your...
If 4 million people are collecting unemployment insurance benefits, 12 million people are officially unemployed, 113...
If 4 million people are collecting unemployment insurance benefits, 12 million people are officially unemployed, 113 million people are employed, and there are 2 million discouraged workers, (a) How many people are in the labor force? (b) What is the unemployment rate?
If the unemployment rate is 6%, it suggests that 6% of Select one: a. the population is not working b. the labor force...
If the unemployment rate is 6%, it suggests that 6% of Select one: a. the population is not working b. the labor force is not working at that time c. people are discouraged from job search d. the individuals who are looking for work cannot find jobs e. of all potential workers are not working
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate:...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate: #Employed, #Labor Force, #Not in Labor Force and Unemployment Rate B) If the economy was in recession and is now starting an expansion would we expect unemployment to increase or decrease? Which types of unemployment should change? C) The next unemployment numbers are reported and unemployment rises, is this consistent with your estÃmate in B? Explain why the increase in unemployment may be due...
macroeconomic
Macroeconomics HW 6 Unemployment 1. How would you classify the labor-force status (employed, unemployed, not in LF) of the following? a. A bank manager who is currently not working because she took a year off to take care of a newborn child. b. A 14 year old who works 10 hours per week at Six Flags. c. A 16-year-old who is doing 20 hours per week of unpaid work in his father's business. d. An auto worker whose union...
Consider the following data for an economy in 2018: Full-time employed workers Part-time employed workers Unemployed workers but discouraged from job search Unemployed workers but actively seeking jobs Employed workers in the underground 85 million 20 million 5 million 12 million 7 million economy Retirees, full-time students, and stay- home parents 8 million (a) With the data above, clearly show your steps and calculate the economy's unemployment rate. (b) Briefly discuss three (3) criticisms or shortcomings of the United States'...
1. In December 2005, the BLS estimated there were 7.4 million unemployed, 142.8 million employed (including 2.8 million involuntary part-time workers), 451,000 discouraged workers and 4.8 million people (including discouraged workers) who were marginally attached to the labor force. a. Calculate the headline (U-3) unemployment rate for December 2005. b. Calculate the unemployment rate for December 2005 if it had included among the unemployed all officially discouraged workers. c. Calculate the unemployment rate if it had included all those who...
2. Labor Force Participation 75 % #Unemployed =50 million #Working Age Population 200 Million A) Calculate: #Employed, #Labor Force, #Not in Labor Force and Unemployment Rate B) If the economy was in recession and is now starting an expansion would we expect unemployment to increase or decrease? Which types of unemployment should change? C) The next unemployment numbers are reported and unemployment rises, is this consistent with your estÃmate in B? Explain why the increase in unemployment may be due...
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