Question
Consider the following data on employment and unemployment in a country for the year 2022: Total population: 10,000 Labour force: 6,000 Employed: 5,500 Unemployed: 500
Consider the following data on employment and unemployment in a country for the year 2022:
Total population: 10,000
Labour force: 6,000
Employed: 5,500
Unemployed: 500
Discouraged workers: 100
Not in the labour force: 4,000
- Calculate the labour force participation rate for the given year.
- Calculate the unemployment rate for the given year.
- Identify and define two types of unemployment that can be inferred from the given data.
- Calculate the discouraged worker rate for the given year.
- Discuss two possible reasons why discouraged workers exist and how they impact the overall labour market.
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Analysis of Employment and Unemployment Data 1 Labour Force Participation Rate LFPR LFPR Labour Force Total Population 100 LFPR 6000 10000 100 LFPR 60 ...Get Instant Access to Expert-Tailored Solutions
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Macroeconomics
Authors: Paul Krugman, Robin Wells, Iris Au, Jack Parkinson
3rd Canadian edition
1319120083, 1319120085, 1319190111, 9781319190118, 978-1319120054
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