Econ questions help

1. The following scenarios have been taken from actual answers to the Current Population Survey (CPS) conducted by the Bureau of Labor Statistics. In each case classify the individual as either Employed (E), Unemployed (U), or Not in the Labor Force (NLF). Number Scenario E or U or NLF? Veronica attends Neptune High School full-time. She also works part-time for pay at the North Star Cafe after school. Michael Scott worked at a paper company for the first 3 days of the survey reference week (Monday - Wednesday). But then he got fired and spent Thursday and Friday of that week answering newspaper and internet want-ads. He still has not obtained a new job. Selena Meyer is a homemaker. Last week she was occupied with her normal household chores. She neither held a job nor looked for one. Walter White was fired from his job several months ago. He gave up looking for work and has not looked for over two months. 5 Saul Goodman left his job at a law firm in New York a month ago and is now actively looking for a similar job in Albuquerque. 2. The following table shows employment data from the BLS for September 2012. Show your work. Civilian, over 16 years of age, non-institutionalized population 210 million Employed 140 million Unemployed 20 million a. Calculate the Labor Force b. Calculate the Unemployment Rate c. Calculate the Labor Force Participation Rate 3. Use the data below to answer the questions. Show your work. Labor force participation rate 60 % Population (assume everyone is over 16 years of age, civilian, non-institutionalized in 150 million this economy) Unemployment rate 5% a. Calculate the number of people in the Labor Force: b. Calculate the number of people Unemployed: c. Calculate the number of people Employed