The unemployment rate that is typically reported in the media is O computed every three months O based on a survey from 150,000 business establishments on weekly earnings, number of workers and hours worked O reported by the Treasury Department O based on a survey of 60,000 households Onone of the above
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- A country's total civilian non institutional adult population is 1 million, and 500,000 people in this country are working, with another 20,000 looking for work. Which of the following statements about the labor force statistics in this country is accurate? a) The employment rate is 50% and the unemployment rate is 2% b) The unemployment rate is 2% and the labor force participation rate is 52% c) The employment rate is 96.15% and the labor force participation rate is 52% D) the labor force is 500,000 and the labor force participation rate is 50% How is this answer calculated?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: employed unemployed not in the labor force the unemployment rate the labor force participation rate the employment rate (employment -population ratio) if the answer for 'e' 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…Calculate unemployment rate if adult population of the nation is 900 people of which 550 people are working and 50 are looking for working
- Fill in the missing values in the table of data collected in the household survey. The working- age population, employment, unemployment, and labor force are measured in thousands. Show working. Working-age population Employment Unemployment Unemployment rate Labor force Labor force participation rate 235,900 9.4% 65.5%How do you calculate natural unemployment rate examplesUnemployment and the Labor Force Suppose the civilian non-institutionalized working-age population is 35.9 million. Of these, 4.6 million are working part-time and 15.71 million are working full-time. Bureau of Labor Statistics (BLS) definitions are used for. calculating unemployment data. Among those not working, the most recent job-search activity for 3.20 million happened less than two weeks ago, while 1.72 million 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 9.81 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places. A) What is the size of the total labor force? B) How many people are unemployed? C) What is the labor force participation rate? D) What is the unemployment rate?
- Please choose the following types of unemployment for the second column: frictional,structural, seasonal, cyclical, statistical discrimination, under employment and hiddenunemployment.The Bureau of Labor Statistics reported the following data for 2010:Labor force: 153.7 millionEmployment: 139.1 millionWorking-age population: 237.9 millionCalculate the:a) Unemployment rate.b) Labor force participation rate.c) Employment-to-population ratio.d) Why might the unemployment rate underestimate the underutilization of labor resources?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…
- 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%Describe the types of unemployment classification.The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Category Number of people Employed 5805 Unemployed 482 Not in the labor force 591 What is the total labor force? What is the labor force participation rate? %% What is the unemployment rate? %% Suppose 266266 of the 482482 unemployed people have been unemployed for so long that they stop looking for work. What is the new labor force? What is the new labor force participation rate? %% What is the new unemployment rate? %