The table gives information reported by the Bureau of Labor Statistics for April, 2016. What is the unemployment rate? What is the labor force participation rate? 1- The unemployment rate is ….percent. 2- The labor force participation rate is ……percent.

The table gives information reported by the Bureau of Labor Statistics for April, 2016. What is the unemployment rate? What is the labor force participation rate? 1- The unemployment rate is ….percent. 2- The labor force participation rate is ……percent.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter15: Poverty And Economic Inequality

Section: Chapter Questions

Problem 30CTQ: What goods and services would you include in an estimate of the basic necessities for a family of...

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Question

Item
Labor force
158,924,000
Employment
151,004,000
Working-age population
252,969,000

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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