Describe in detail the household survey of unemployment and, in the context of the survey, explain what is meant the terms below and give the number or rate of each based on the table below for the following dates-- December 2007; June 2009; and February 2020, Arpil 2020, May 2020, and January 2021: employed unemployed not in the labor force the unemployment rate the labor force participation rate the employment rate (employment -population ratio) if the answer for 'e' in December 2007 were the same as in February 2020 and the number of employed in February 2020 remained the same at 158,759,000, how many people would be unemployed in February 2020 and what, therefore, would the unemployment rate be in February 2020? December 2007 June 2009 February 2020 April 2020 May 2020 January 2021 Civilian noninstitutional population >16 233,290,000 235,695,000 259,835,000 260,045,000 260,197,000 260,849,000 Civilian labor force 153,918,000 154,730,000 165,546,000 137,224,000 156,481,000 160,161,000 Employed 146,273,000 140,003,000 158,759,000 133,403,000 137,224,000 150,031,000 Unemployed Not in labor force Unemployment Rate Labor Force Participation Rate Employment-Population Ratio

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations

Section: Chapter Questions

Problem 2P

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Describe in detail the household survey of unemployment and, in the context of the survey, explain what is meant the terms below and give the number or rate of each based on the table below for the following dates-- December 2007; June 2009; and February 2020, Arpil 2020, May 2020, and January 2021:

employed
unemployed
not in the labor force
the unemployment rate
the labor force participation rate
the employment rate (employment -population ratio)
if the answer for 'e' in December 2007 were the same as in February 2020 and the number of employed in February 2020 remained the same at 158,759,000, how many people would be unemployed in February 2020 and what, therefore, would the unemployment rate be in February 2020?

	December 2007	June 2009	February 2020	April 2020	May 2020	January 2021
Civilian noninstitutional population >16	233,290,000	235,695,000	259,835,000	260,045,000	260,197,000	260,849,000
Civilian labor force	153,918,000	154,730,000	165,546,000	137,224,000	156,481,000	160,161,000
Employed	146,273,000	140,003,000	158,759,000	133,403,000	137,224,000	150,031,000
Unemployed
Not in labor force
Unemployment Rate
Labor Force Participation Rate
Employment-Population Ratio

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