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 currentlylooking for a new one; 1000 employed workers decided to retire; 2500 were unemployed but just started a new job. Ofthe workers not in the labour force 5,000 workers entered the labour force but are still looking for a job and 21,000workers just found a job.How ma • How many workers are not in the labour force?• Calculate the unemployment rate.%• Calculate the labour force participation rate.• Calculate the employment to population ratio. (using 1 decimal place)%%

Answered: How many workers are not in the labour…

How many workers are not in the labour force? Calculate the unemployment rate. % Calculate the labour force participation rate. %

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 3P

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Question

100%

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.
How ma

• How many workers are not in the labour force?
• Calculate the unemployment rate.
%
• Calculate the labour force participation rate.
• Calculate the employment to population ratio. (using 1 decimal place)
%
%

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