Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 6, Problem 6WNG
(a)
To determine
The rate of
(b)
To determine
The rate of employment.
(c)
To determine
The labor force participation rate.
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Using the following data calculate:
(i) The number of persons employed.
(ii) The number of persons unemployed.
(iii) The labour force.
(iv) The Labour Force Participation rate.
(v) The "official" unemployment rate.
987,156 Currently Working
9845 (ages 13-14) looking for work
45,600 Part-Time workers
234 Self-Employed
67,432 (ages 23-25) looking for work
544,321 (ages 16-20) looking for work
5654 Temp Workers
543 recent university gràduates that
are going back to graduate school
23,000 volunteer workers
12,000 (ages 15) looking for work
56 family workers who worked 15 hrs a week
6543 Discouraged Workers
67,890 laid off receptionists looking for work
Current population is 6,000,000
5000 armed forces
3500 institutionalized
Using the following data calculate:
(i) The number of persons employed.
(ii) The number of persons unemployed.
(iii) The labour force.
(iv) The Labour Force Participation rate.
(v) The “official” unemployment rate
987,156 Currently Working
23,000 volunteer workers
9845 (ages 13-14) looking for work
12,000 (ages 15) looking for work
45,600 Part-Time workers
56 family workers who worked 15 hrs a week
234 Self-Employed
6543 Discouraged Workers
67,432 (ages 23-25) looking for work
67,890 laid off receptionists looking for work
544,321 (ages 16-20) looking for work
The current population is 6,000,000
5654 Temp Workers
5000 armed forces
543 recent university graduates that are going back to graduate school
3500 institutionalize
Labour force: 140,200
Individuals under 16 years: 12,400
Employment: 132,700
Imprisonment: 980
Working age population: 210,900
Armed forces: 18,600
Use the information given to calculate the following:
Unemployment rate, Labour force participation rate, Employment to population ratio, Institutionalized population ratio, Not in the labour force, Working age population ratio
Chapter 6 Solutions
Macroeconomics
Ch. 6.1 - Prob. 1STCh. 6.1 - Prob. 2STCh. 6.1 - In year 1, your annual income is 45,000 and the...Ch. 6.2 - Prob. 1STCh. 6.2 - Prob. 2STCh. 6 - Prob. 1QPCh. 6 - Prob. 2QPCh. 6 - Prob. 3QPCh. 6 - Prob. 4QPCh. 6 - Prob. 5QP
Ch. 6 - Prob. 6QPCh. 6 - Prob. 7QPCh. 6 - Prob. 8QPCh. 6 - Prob. 9QPCh. 6 - Prob. 10QPCh. 6 - Prob. 11QPCh. 6 - Prob. 12QPCh. 6 - Prob. 13QPCh. 6 - Prob. 14QPCh. 6 - Prob. 1WNGCh. 6 - Prob. 2WNGCh. 6 - Prob. 3WNGCh. 6 - Prob. 4WNGCh. 6 - Prob. 5WNGCh. 6 - Prob. 6WNGCh. 6 - Prob. 7WNGCh. 6 - Prob. 8WNGCh. 6 - Prob. 9WNGCh. 6 - Prob. 10WNG
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- Use the following data to calculate the number of persons employed the number of persons unemployed the labour force the labour participation rate the official unemployment ratearrow_forwardUsing the following data calculate:(iv) The Labour Force Participation rate.(v) The “official” unemployment rate currently working 23,000 volunteer workers 9845(ages 13-14) looking for work 12,000 (ages 15)looking for work 45,600 Part-time workers 56 family workers who worked 15 hrs a week 234 self-employed 6543 discouraged workers 67,432(ages 23-25)looking for work 67,890 laid off receptionists looking for work 544,321(ages 16-20) looking for work) current population is 6,000,000 5654 Temp workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized c) Suppose that 20,000 of the employed switch to jobs in the underground economy. When interviewed by STATIN, 50% of these switchers report that they are not working and not seeking work, while the other 50% report that they are not working but seeking work. Explain what happens to the official unemployment rate and the “true” unemployment rate. (d) explain the…arrow_forwardCompute the (a) Number of unemployed, (b) Unemployment-rate, (c) Population, and (d) Labor force participation rate, using this data: Number of employed = 1800 million Not in labour force =730 million Number of Labour force =2500 millionarrow_forward
- Using the following data calculate: (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate. 987,156 Currently Working | 23,000 volunteer workers 9845 (ages 13-14) looking for work |12,000(ages 15) looking for work 45,600 Part-Time workers| 56 family workers who worked 15 hrs a week 234 Self-Employed |6543 Discouraged Workers 67,432 (ages 23-25) looking for work| 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work |Current population is 6,000,000 5654 Temp Workers |5000 armed forces 543 recent university graduates that are going back to graduate school |3500 institutionalizedarrow_forwardThe 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.arrow_forwardThe 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…arrow_forward
- Using the following data calculate:(i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment ratearrow_forwardIn a country number of employed is 27 million, number of unemployed is 3 million and population(+16 years old) is 60 million. According to this; b) Calculate the labor force participation rate.arrow_forward(b) Using the following data calculate:(i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate. 987,156 Currently Working 23,000 volunteer workers9845 (ages 13-14) looking for work 12,000 (ages 15) looking forwork45,600 Part-Time workers 56 family workers who worked15 hrs a week234 Self-Employed 6543 Discouraged Workers67,432 (ages 23-25) looking for work 67,890 laid off receptionistslooking for work544,321 (ages 16-20) looking for work Current population is6,000,0005654 Temp Workers 5000 armed forces543 recent university graduates thatare going back to graduate school3500 institutionalizedarrow_forward
- (b) Using the following data calculate: (i) (ii) (iii) (iv) (v) The number of persons employed. The number of persons unemployed. The labour force. The Labour Force Participation rate. The “official" unemployment rate. | 987,156 Currently Working 9845 (ages 13-14) looking for work 23,000 volunteer workers 12,000 (ages 15) looking for work 45,600 Part-Time workers 56 family workers who worked 15 hrs a week 6543 Discouraged Workers 67,890 laid off receptionists looking for work 234 Self-Employed 67,432 (ages 23-25) looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5000 armed forces 5654 Temp Workers 543 recent university graduates that are going back to graduate school 3500 institutionalizedarrow_forwardEmployment Rate is: The number of people employed the number of employed people divided by the working-age population the number of people of working age in the population the total number of employed plus unemployed people none of the abovearrow_forwardHere is some data for an economy. Population: 22.5 million Population under the age of 16 years: 7.5 million Discouraged workers: 250,000. Retired people: 1 million Structurally unemployed people: 320,000 Frictionally unemployed people: 220,000 Cyclically unemployed people: 2.2 million The labour force participation rate can be calculated as [(# in Labour Force) / (Adult Population)] *100. Based on this formula, what is the approximate labour force participation rate in this economy? Answers: 91.7% 100% 93.3% 98.3%arrow_forward
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