Suppose the civilian noninstitutionalized working-age population is 35.935.9 million in in a hypothetical economy. Of these, 4.94.9 million are working part-time and 14.5314.53 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemployment data. Among those not working, the most recent job-search activity for 2.902.90 million happened less than two weeks ago, while 1.721.72 million most recently looked for work between two and four weeks ago. An additional 0.860.86 million most recently looked for work five weeks ago, and the remaining 10.9910.99 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places. What is the size of the total labor force? ____millionmillion   How many people are unemployed? ______millionmillion   What is the labor force participation rate? _____%   What is the unemployment rate? _______%

Exploring Economics
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ISBN:9781544336329
Author:Robert L. Sexton
Publisher:Robert L. Sexton
Chapter18: Introduction To Macroeconomics: Unemployment, Inflation, And Economic Fluctuations
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Suppose the civilian noninstitutionalized working-age population is 35.935.9 million in in a hypothetical economy. Of these, 4.94.9 million are working part-time and 14.5314.53 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemployment data.

Among those not working, the most recent job-search activity for 2.902.90 million happened less than two weeks ago, while 1.721.72 million most recently looked for work between two and four weeks ago. An additional 0.860.86 million most recently looked for work five weeks ago, and the remaining 10.9910.99 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places.

What is the size of the total labor force?
____millionmillion
 
How many people are unemployed?
______millionmillion
 
What is the labor force participation rate?
_____%
 
What is the unemployment rate?
_______%
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