Chapter 15:Problem 9:Remember to show all work and briefly discuss your results.The table below lists the number of people by labor force classification for the country of Special.EmployedPart-time employedUnemployedMarginally attachedNot in the Labor ForceDiscouraged78 million22 million12 million3 million30 million4 millionCalculate the number in the labor force, and the unemployment rate.a.Calculate the number in the adult population, and the labor force participation rate.b.10: (Essay 20%) Complete ANY TWO of the following essays incorporating real examples and youropinions into your responses, not textbook examples. The length of each essay should be at least oneof one page. Please type this up.

Question
Asked Oct 17, 2019
Chapter 15:
Problem 9:
Remember to show all work and briefly discuss your results.
The table below lists the number of people by labor force classification for the country of Special.
Employed
Part-time employed
Unemployed
Marginally attached
Not in the Labor Force
Discouraged
78 million
22 million
12 million
3 million
30 million
4 million
Calculate the number in the labor force, and the unemployment rate.
a.
Calculate the number in the adult population, and the labor force participation rate.
b.
10: (Essay 20%) Complete ANY TWO of the following essays incorporating real examples and your
opinions into your responses, not textbook examples. The length of each essay should be at least one
of one page. Please type this up.
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Chapter 15: Problem 9: Remember to show all work and briefly discuss your results. The table below lists the number of people by labor force classification for the country of Special. Employed Part-time employed Unemployed Marginally attached Not in the Labor Force Discouraged 78 million 22 million 12 million 3 million 30 million 4 million Calculate the number in the labor force, and the unemployment rate. a. Calculate the number in the adult population, and the labor force participation rate. b. 10: (Essay 20%) Complete ANY TWO of the following essays incorporating real examples and your opinions into your responses, not textbook examples. The length of each essay should be at least one of one page. Please type this up.

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Step 1

a. The labor force includes both employed and unemployed labors. (The marginally attached worker who is currently neither working nor looking for work but has indicated that they want a job. A discouraged worker is a marginally attached worker who have stopped looking for job due to repeated failures to find jobs. The discouraged workers will not be added in labor force). The labor force can be calculated as follows:

Labor force Employed workers+Part-time employed+Marginally attached+ Unemployed
-78+22+3+12
-1 15
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Labor force Employed workers+Part-time employed+Marginally attached+ Unemployed -78+22+3+12 -1 15

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Step 2

Thus, the labor force is 115 million.

Step 3

The unemployment rate can be ...

Unemployed100
Labor force
Unemployment rate =
12
x100
115
10.43
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Unemployed100 Labor force Unemployment rate = 12 x100 115 10.43

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