Unemployment and the Labor ForceALFRED IlCvillan Labor Force Participation Rate: 16 to 19 years VintageAsk FREDLet's examine the labor forceparticipation rates of teenagers.The accompanying graph depicts thelabor force participation rate forteenagers in the United States over time.2018-01-0545.042.540.0E 37.535.032.530.027.520132014201520162017Source: U.S. Bureau of Labor Statisticsb. In the peak month, approximately what percentage of teenagers are in the labor force?AboutWhat about in trough months?AboutOver the year, therefore, by approximately how much doesthe labor force participation rate of teenagers change?From peak to trough about% points

Question
Asked Mar 15, 2019
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Unemployment and the Labor ForceALFRED Il
Cvillan Labor Force Participation Rate: 16 to 19 years Vintage
Ask FRED
Let's examine the labor force
participation rates of teenagers.
The accompanying graph depicts the
labor force participation rate for
teenagers in the United States over time.
2018-01-05
45.0
42.5
40.0
E 37.5
35.0
32.5
30.0
27.5
2013
2014
2015
2016
2017
Source: U.S. Bureau of Labor Statistics
b. In the peak month, approximately what percentage of teenagers are in the labor force?
About
What about in trough months?
About
Over the year, therefore, by approximately how much does
the labor force participation rate of teenagers change?
From peak to trough about
% points
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Unemployment and the Labor ForceALFRED Il Cvillan Labor Force Participation Rate: 16 to 19 years Vintage Ask FRED Let's examine the labor force participation rates of teenagers. The accompanying graph depicts the labor force participation rate for teenagers in the United States over time. 2018-01-05 45.0 42.5 40.0 E 37.5 35.0 32.5 30.0 27.5 2013 2014 2015 2016 2017 Source: U.S. Bureau of Labor Statistics b. In the peak month, approximately what percentage of teenagers are in the labor force? About What about in trough months? About Over the year, therefore, by approximately how much does the labor force participation rate of teenagers change? From peak to trough about % points

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Expert Answer

Step 1

Labor force: In an economy, labor force refers to the part of the working age population (aged 15-69) that is willing and able to work. It is the sum of employed and unemployed people.

Employed: Those people who belong to the labor force and are working belong to the employed category.

Unemployed: This includes the people who are willing and able to work but do not possess job.

Labor force participation rate: It is defined as the number of people employed and unemployed (labor force) as a percentage of total adult population in the country.

The formula for calculating labor force participation rate is given below:

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Step 2

i) First, we draw the trend line for labor force participation rate for teenagers around the peak months to find the approximate percentage of teenagers in the labor force. The trend line indicates that the approximate percentage of teenagers in the labor force in the peak month is 42.5%.

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Step 3

ii) We draw the trend line for labor force participation rate for teenagers around the trough months to find the approximate percentage of teenager...

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