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- Assess whether the following would be counted as unemployed in the Current Employment Statistics survey. A husband willingly stays home with children while his wife works. A manufacturing worker whose factory just closed down. A college student doing an unpaid summer internship. A retiree. Someone who has been out of work for two years but keeps looking for a job. Someone who has been out of work for two months but isnt looking for a job. Someone who hates her present job and is actively looking for another one. Someone who decides to take a part time job because she could not find a full time position.This assignment requires you to apply the formula for calculating unemployment and practice your understanding of its components Unemployment is an important economic indicator for the health of an economy. No one wants to be unemployed, especially for a longer period of time. Fill in the missing values in the table of data collected in the household survey for November 2021. The working-age population, employment, unemployment, and labor force are measured in thousands. Show your work. 2020 Household Survey Working-age population 235,900 Employment Unemployment Unemployment rate 9.4% Labor force Labor force participation rate 65.5%Which of the following statements is incorrect? a. A decrease in the labor participation causes the unemployment rate to decline, otherthings being equal. b. When the BLS publishes Employment Situation report each month, it also releases theresults about employment, hours worked, and employee earnings from EstablishmentSurvey. c. Every month, the BLS computes the unemployment rate based on a survey of about60,000 households (Current Population Survey). d. The broadest measure of labor underutilization, known as u6, is the sum of totalunemployed, plus all marginally attached workers, plus total employed part time foreconomic reasons, as a percent of the civilian labor force.
- The unemployment rate statistic published by the Bureau of Labor Statistics may underestimate the magnitude of the unemployment problem in the economy because a) all part-time workers are counted as "employed" even though some would prefer to work full-time (i.e. are underemployed). b) some workers are working in jobs for which they are overqualified (also underemployed). c) "discouraged workers," who are no longer looking for work, are not counted in the labor force. d) all of the above.This question focuses on the labor market and unemployment using the most recent U.S. data. The adult population (N) of the U.S. is approximately 259 million. The labor force is approximately 162.5 million and the number of employed workers (E) is approximately 156.5 million. What is the unemployment rate? What is the labor force participation rate? Both are lower than 2010 U.S. values (u2010 = 9.6% and LFPR2010 = 64.9%) Give two plausible reasons why each labor market indicator is lower in 2018.Multiple choice question Suppose the total population between the ages of 15 and 74 in an economy is 5,000,000, the labor force is 3,000,000, the number of unemployed is 250,000 and the number of employed is 2,750,000. Calculate the unemployment rate (u). (a)Relative unemployment rate = 60% (b)Relative unemployment rate = 9.09% (c)Relative unemployment rate = 5% (d)Relative unemployment rate = 8.33%
- b) Repeat the exercise undertaken in 4(a), but this time for those aged 18–24. Male Female Total In employment (000s) 1 826 1 700 ILO unemployed (000s) 234 Total economically active (000s) 1 873 Percentage unemployed (%) 10.3 (c) Calculate the percentage point differences for the first quarter of 2018 in the following: (i) The overall (aged 16 and over) male and female unemployment rate (ii) 18–24 and overall male unemployment rates iii) 18–24 and overall female unemployment rates (iv) 18–24 and overall total unemployment ratesAsurvey of 200,000 people finds 76,300 "employed," 6,640"unemployed," and the remaining 117,060 "not in the labor force." What is the unemployment rate derived from these numbers? a. 8.7percent b. 3.3 percent c. 8.0 percent d. 5.7 percent