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- Suppose the workingminus−age population of a fictional economy falls into the following categories: 90 are retired or homemakers; 60 have fullminus−time employment; 20 have partminus−time employment; 20 do not have employment, but are actively looking for employment; and 10 would like employment but do not have employment and are not actively looking for employment. The official unemployment rate as calculated by the U.S. Bureau of Labor would equal A. 30/80×100. B. 20/80×100. C. 20/100×100. D. 20/60×100.Find the size of the civilian labor force from the following data: frictional unemployment=150, structural unemployment=200, cyclical unemployment=225, discouraged workers=25, underemployed workers=75, fully employed workers=800, total population=2,000 Group of answer choices 1,550 1,500 1,450 2,000Describe the types of unemployment classification.
- Define with example: Structural unemployment, Frictional unemployment and cyclical unemploymentPlease choose the following types of unemployment for the second column: frictional,structural, seasonal, cyclical, statistical discrimination, under employment and hiddenunemployment.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? _______%
- Suppose the civilian noninstitutionalized working-age population is 35.9 million in in a hypothetical economy. Of these, 4.4million are working part-time and 13.19 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 3.40 million happened less than two weeks ago, while 1.72million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 12.33 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? million How many people are unemployed? million What is the labor force participation rate? % What is the unemployment rate?The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2017. Age Employed Unemployed Not in Labor Force (Thousands of People) (Thousands of People) (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 Source: “Labor Force Statistics from the Current Population Survey.”Bureau of Labor Statistics. What is the national unemployment rate? 2.7% 4.4% 7.4% 59.1% Complete the following table by computing the unemployment rate for each age group. Age Unemployment Rate 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over Which of the following groups has an unemployment rate lower…The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2017. Age Employed Unemployed Not in Labor Force (Thousands of People) (Thousands of People) (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 Source: “Labor Force Statistics from the Current Population Survey.
- Summarize the labor market flows (both in terms of definitions and in terms of what the data show. In doing so, ensure that you describe the differences between cyclical, structural, and frictional unemployment.If the number employed is 170 million, the working-age population is 240 million, and the number unemployed is 20 million, the labor force participation rate is 65%, then the unemployment rate is A. 18.8% B. 10.5% C. 29.2% D. 8.3% E. can not be determined because we do not know what the labor participation rate is for the actual working age population.A worker who has quit one job to have time to search for a similar position is counted as what type of unemployment? frictional occupational regional cyclical
