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• Calculate the unemployment rate. • Calculate the labour force participation rate. • Calculate the employment to population ratio. (using 1 decimal place) % % %

• Calculate the unemployment rate. • Calculate the labour force participation rate. • Calculate the employment to population ratio. (using 1 decimal place) % % %

Principles of Microeconomics
Principles of Microeconomics
7th Edition
ISBN:9781305156050
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter19: Earnings And Discrimination
Section: Chapter Questions
Problem 3PA
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Question 3 We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job.
Transcribed Image Text:Question 3 We are given the following information for UWI Land. At the start of the period, there are 334,250 employed workers, 15,750 unemployed and 150,000 not in the labour force. During the period 500 workers lost their jobs but are currently looking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Of the workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000 workers just found a job.
• Calculate the unemployment rate. % • Calculate the labour force participation rate. • Calculate the employment to population ratio. (using 1 decimal place) % %
Transcribed Image Text:• Calculate the unemployment rate. % • Calculate the labour force participation rate. • Calculate the employment to population ratio. (using 1 decimal place) % %
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