3. The U.S. Bureau of Labor Statistics {BLS} conducts bimonthly household surveys to measure labor force status in the United States. The survey provides a measure of employed people, such as nonfarm employment, hours, and earnings by industry. Data collected om this survey will be used to report and estimate employment levels and trends in the US. [1} The table as following provides us the employment situations in November 2021 {1122021) and November 21322 (I lr'222}. With the information given about adult population {Adult 16+), labor force (2.), employed {E}, calculate the values of unemployed (U), unemployment rate (UR) and labor force participation rate (LFPR) in the two periods. Also, use the data of ll.-"2U2l and llr'222 to show stepbystep solutions for U, UR, LFPR in the two columns. I. . . . 1122021 1122022 we were Adult 16- Population 16 above (number) 251,085 264,333 Labor force (number) 150,535 154,431 _ _ _ [2} Suppose you find the demand (g, as thousands} and supply (Q5, as thousands} for longhaul truck drivers in one market can be specied as rnctions of the yearly wage paid (W, as thousand S) as following. Ir Demand for drivers: 52,1: 155 1.5 * 1V, Ir Supply of drivers: Q; = 36 + 0.25 * W, How much is the market equilibrium level of Twage for truck drivers (as thousands) and the how many jobs will be in this market? Now you noticed a company pays 413% higher wage than the market equilibrium level to hire truck drivers, how to explain this case