Homework Answers
(1) Official unemployment rate = Unemployed / (Employed + Unemployed)
= 5,975,000 / (157,005,000 + 5,975,000)
= 5,975,000 / 162,980,000
= 0.0367
= 3.67%
(2) U-4 unemployment rate = (Unemployed + Discouraged) / (Employed + Unemployed + Discouraged)
= (5,975,000 + 425,000) / (157,005,000 + 5,975,000 + 425,000)
= 6,400,000 / 163,405,000
= 0.0392
= 3.92%
(3) If discouraged workers were included, reported unemployment rate will increase (be higher).
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Table 28-6
Civilian labor force
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Persons unemployed 15 weeks or longer
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