Suppose a govemment report about a country's employment situation reveals the following data (all values are in millions of people). 180 = Working-age population 100 = Employed people 33 = People not working but actively looking for work 23 = Unemployed people who have stopped looking for work 24 = People not working and not seeking work If the country in question is the United States, these data are obtained from unemployment office registrations From the data above, it can be determined that this country's labor force is million people. It can be determined that this country's unemployment rate is%. (Round your response to one decimal place.) The data indicate that the country's participation rate is%. (Round your response to one decimal place.)

Suppose a govemment report about a country's employment situation reveals the following data (all values are in millions of people). 180 = Working-age population 100 = Employed people 33 = People not working but actively looking for work 23 = Unemployed people who have stopped looking for work 24 = People not working and not seeking work If the country in question is the United States, these data are obtained from unemployment office registrations From the data above, it can be determined that this country's labor force is million people. It can be determined that this country's unemployment rate is%. (Round your response to one decimal place.) The data indicate that the country's participation rate is%. (Round your response to one decimal place.)

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

See similar textbooks

Similar questions

In 2017-18, the Pakistan Bureau of Statistics announced that of all adult Pakistanis, 59,786,200 were employed, 3,613,800 were unemployed, and 58,800,000 were not in the labor force. Use this information to calculate the adult population.
The following table gives the joint probability distribution between employmentstatus and college graduation among those either employed or lookingfor work (unemployed) in the working-age population of country A. a. Compute E(Y).b. The unemployment rate is a fraction of the labor force that is unemployed. Show that the unemployment rate is given by 1 − E(Y).c. Calculate E(Y l X = 1) and E(Y l X = 0).d. Calculate the unemployment rate for (i) college graduates and(ii) non–graduates.e. A randomly selected member of this population reports being unemployed.What is the probability that this worker is a (i) college graduate,(ii) non–graduate?f. Are educational achievement and employment status independent?Explain.
Suppose the populstion is 300 million people. Of these 70 million people are classified as not surveyed 80 million people as not in the labor force and 144 million as employed. What would be the unemployment rate in this example.
Suppose the adult population over the age of 16 is 237.8 million and the labor force is 153.9 million (of whom 139.1 million are employed). How many people are “not in the labor force?” What are the proportions of employed, unemployed and not in the labor force in the population? Hint: Proportions are percentages.
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.
the basic data source to track the number of unemployed comes from a calculation of applications for new unemployment benefits. true or false
Using the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part -Time Workers 56 family workers who worked 15 hrs a week 234 Self Employed 6543 Discouraged Workers 67, 432 (ages 23-25) looking for work 67, 890 laid off receptionists looking for work 544, 321 (ages 16-20) looking for work Current population is 6,000,000 5454 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (c) suppose that 20,000of tghe employed switches to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not workingnand not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the "true" unnemployment rate. (d) Illustrate and carefully explain the impact of an increase in the…
S1: For the Philippines, net international migration is the difference between the number of Filipinos immigrating to other countries and the number of Filipinos migrating back to the country. S2: Urban and rural areas are completely opposed in terms of available amenities from the local governments and available services from the national government. A. True, True B. True, False C. False, True D. False, False
There are 160 million population. 90 million people are working; 10 million are not working but are looking for work; and 20 million are not working and have given up looking for work. Solve for the labour force participation rate. Additionally: Could someone explain the difference between ‘population’ vs ‘adult population’? How do we derive the ‘adult population’ if they only provide numbers for the ‘population’? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.
Suppose a researcher is using a panel data set on n = 10,000 workers over T = 20 years (from 2000 through 2019) that contains the workers’ earnings, sex, education, and age. The researcher is interested in the effect of education on earnings. Give some examples of unobserved person-specific variables that are correlated with both education and earnings. Can you think of examples of time-specific variables that might be correlated with education and earnings? How would you control for these person-specific and time-specific effects in a panel data regression?
Assume that the government decides to count discouraged workers in the official statistics. Which of the following would follow from that decision? A. The number of employed would rise B. The number of unemployed would rise C. The labor force participation rate would fall D. Nothing would happen because discouraged workers are already counted in the official statistics
Examine the unemployment rate of Trinidad and Jamaica and discuss how they have changed over the 20- year period of 2000 to 2019 (iii) research and discuss factors that could account for the difference(s) observed in the unemployment rate between the two countries. Factors should be supported using either quantitative evidence and/or real-world examples obtained from the assigned countries.