Civilian employment is broadly classified by the federal government into two categories-agricultural and nonagricultural. Employment figures (in

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Civilian employment is broadly classified by the federal government into two categories-agricultural and nonagricultural. Employment figures (in thousands of workers) for farm and nonfarm categories for selected years from 1980 to 2015 are given in the table below.
Year Year Farm Nonfarm Farm Nonfarm 3,364 3,179 2000 2005 2010 2015 134,427 139,532 136,858 1980 1985 2,464 2,197 2,206

a. Compute simple indexes for each of the two time series using 1980 as the base period.
b. Which segment has shown the greater percentage change in employment over the period shown?
c. Compute a simple composite index for total employment for the years 1980-2015. Use 1980 as a base period.
d. Refer to part c. Interpret the composite index value for 2010.

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Statistics For Business And Economics

ISBN: 9780134506593

13th Edition

Authors: James T. McClave, P. George Benson, Terry Sincich

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