Labour force: 140,200 Individuals under 16 years: 12,400 Employment: 132,700 Imprisonment: 980 Working age population: 210,900 Armed forces: 18,600 Use the information given to calculate the following: Unemployment rate, Labour force participation rate, Employment to population ratio, Institutionalized population ratio, Not in the labour force, Working age population ratio
Labour force: 140,200 Individuals under 16 years: 12,400 Employment: 132,700 Imprisonment: 980 Working age population: 210,900 Armed forces: 18,600 Use the information given to calculate the following: Unemployment rate, Labour force participation rate, Employment to population ratio, Institutionalized population ratio, Not in the labour force, Working age population ratio
Economics (MindTap Course List)
13th Edition
ISBN:9781337617383
Author:Roger A. Arnold
Publisher:Roger A. Arnold
Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
Section: Chapter Questions
Problem 6WNG
Related questions
Question
Labour force: 140,200
Individuals under 16 years: 12,400
Employment: 132,700
Imprisonment: 980
Working age population: 210,900
Armed forces: 18,600
Use the information given to calculate the following:
Expert Solution
Step 1
Given:
Labour force: 140,200
Individuals under 16 years: 12,400
Employment: 132,700
Working-age population: 210,900
Armed forces: 18,600
Imprisonment: 980
To Find
- Unemployment rate
- Labour force participation rate
- Employment to population ratio
- Institutionalized population ratio
- Not in the labor force
- Working-age population ratio
Step 2
Part-A) Unemployment Rate:
Thus, the unemployment rate will be:
Part-B) Labor Force Participation Rate:
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