The unemployment rate is defined as divided by. Number of individuals without jobs; Number of employed Number of unemployed; Number of employed Number of individuals out of labor force; Labor force Number of unemployed; Labor force Number of individuals out of labor force; Number of employed
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- Describe in detail the household survey of unemployment and, in the context of the survey, explain what is meant the terms below and give the number or rate of each based on the table below for the following dates-- December 2007; June 2009; and February 2020, Arpil 2020, May 2020, and January 2021: the unemployment rate the labor force participation rate if the answer for '2' in December 2007 were the same as in February 2020 and the number of employed in February 2020 remained the same at 158,759,000, how many people would be unemployed in February 2020 and what, therefore, would the unemployment rate be in February 2020? December 2007 June 2009 February 2020 April 2020 May 2020 January 2021 Civilian noninstitutional population >16 233,290,000 235,695,000 259,835,000 260,045,000 260,197,000 260,849,000 Civilian labor force 153,918,000 154,730,000 165,546,000 137,224,000 156,481,000 160,161,000 Employed…Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS. Labor Force Participation RateLabor Force Participation Rate = = According to this formula, what is the labor force participation rate of this economy of six people? 40% 50% 80% 100% Complete the right half of the following equation to reflect the unemployment rate reported by the BLS. Unemployment RateUnemployment Rate = = According to this formula, what is the unemployment rate of this economy of six people? 40% 50% 80% 100%The adult population is divided into three groups: employed, unemployed, not in the labor force. The latest TUIK labor force statistics for October 2023 show that the largest group is Not in the labor force Retired Unemployed Employed
- 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.The labor force participation rate shows the percentage of thelabor force that has a job. labor force that is unemployed. relevant population that is employed. relevant population that is in the labor force.Provide the complete solution step by step. 2. Labor Force Characteristics : ( Compute: Population; LFPR; Unemployed; Unemployment rate; Employed; Employment rate; Underemployment rate) The Tuwid na Daan has a labor force of 65M , and those who are out of work is 35M. Break down of those who are institutionalised are as follows: Retirees 5M; below 15 years old 10M; Disabled 5M; and currently enrolled 5M. The Tuwid na Daan government is happy to announce that the number of people working exceeds the number of people looking for work. Although there are 8M working on a job where their skills are higher than necessary. The Tuwid na daan government needs your help, to visualize the economy’s present condition in order to prepare for the future
- 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 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%If the unemployment rate is approximately 6.1% then it must be true that there is Unemployed = 5 million persons & Employed = 150 million persons Unemployed = 10 million persons & Employed = 155 million persons Unemployed = 2.5 million persons & Employed = 75 million persons Unemployed = 15 million persons & Employed = 175 million persons
- Which statement correct describes the U.S. unemployment rate? The U.S. unemployment rate _______. A. shows a downward trend B. increases in recessions C. is calculated as the percentage of the labor force who are unemployed or discouraged D. is calculated as the percentage of the labor force who are unemployed or who are working part time and would like full-time workExplain the expenditure measure of GDP. What is the underlying assumption of this measure? Provide one example where the underlying assumption is violated. Explain the income measure of GDP. What is the underlying assumption of this measure? Provide one example where the underlying assumption is violated. Explain why we need to compute nominal GDP, real GDP, and per capita GDP. Why does every economy have a natural rate of unemployment (NRU)? Can the actual unemployment rate measured by Statistics Canada be greater or lesser than the NRU? If so why? Assume that the economy has a recessionary gap. Explain how the economy will remove this gap without government intervention. Use graphs to illustrate your answer. Assume that the economy has an inflationary gap. Explain how the economy will remove this gap without government intervention. Use graphs to illustrate your answer.Explain why there is inverse relationship between RGDP and Unemployment rate, ceteris paribus
