LABOR ECONOMICS (LL+ACCESS)
8th Edition
ISBN: 9781264909339
Author: BORJAS
Publisher: MCG
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Question
Chapter 2, Problem 1P
(a)
To determine
Determine the size of the labor force at the start of each year.
(b)
To determine
Determine the number of unemployed at the start of each year.
(c)
To determine
Explain that these numbers may cause some concerns even though the
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Students have asked these similar questions
The total adult, working-age population in January 2017 was 254.1 million.
Out of this total population, 152.1 million were classified as employed, and 7.6 million were classified as unemployed.
The remaining 94.4 million were classified as out of the labor force.
As you will learn, however, this seemingly simple chart does not tell the whole story.
Discuss what the unemployment rate is telling us. Explain what the unemployment rate does not tell us regarding the economy, or the health of the economy. What might we miss if we try to judge the economy based only on the unemployment rate?
Refer to the table below. Calculate the number of people considered "employed," the number considered "unemployed," the "unemployment rate" and the "labor force participation rate" (LFR).
The number of people who are employed =
The number of people who are unemployed =
Calculate the unemployment rate:
Calculate the labor force participation rate:
Number of adults
20,000
Number of adults who are paid employees
8,000
Number of adults who work in their own businesses
1,600
Number of adults who are unpaid workers in a family member's firm
1,000
Number of adults who were temporarily absent from their jobs due to flooding or earthquake
400
Number of adults waiting to be recalled to a job from which they were laid off
200
Number of adults who do not have a job, are available to work, and have tried to find a job within the past 4 weeks
1,400
Number of adults who do not have a job, are available to work, but have not tried to find a job within the past 4…
A country with a civilian (work-eligible) population of 90,000 (all over age 16) has 70,000 employed and 10,000 unemployed persons. Of the unemployed, 5,000 are frictionally unemployed and another 3,000 are structurally unemployed. On the basis of these data, answer the following questions.
What is the size of the labor force?
What is the unemployment rate?
Chapter 2 Solutions
LABOR ECONOMICS (LL+ACCESS)
Ch. 2 - Prob. 1RQCh. 2 - Prob. 2RQCh. 2 - Prob. 3RQCh. 2 - Prob. 4RQCh. 2 - Prob. 5RQCh. 2 - Prob. 6RQCh. 2 - Prob. 7RQCh. 2 - Prob. 8RQCh. 2 - Prob. 9RQCh. 2 - Prob. 10RQ
Ch. 2 - Prob. 11RQCh. 2 - Prob. 12RQCh. 2 - Prob. 1PCh. 2 - Prob. 2PCh. 2 - Prob. 3PCh. 2 - Prob. 4PCh. 2 - Prob. 5PCh. 2 - Prob. 6PCh. 2 - Prob. 7PCh. 2 - Prob. 8PCh. 2 - Prob. 9PCh. 2 - Prob. 10PCh. 2 - A worker plans to retire at the age of 65, at...Ch. 2 - Prob. 12PCh. 2 - Prob. 13PCh. 2 - Prob. 14PCh. 2 - Prob. 15P
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