Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Part 1: The Unemployment Rate Complete the following exercise THE EMPLOYMENT SITUATION -- JUNE 2022 Total nonfarm payroll employment rose by 372,000 in June, and

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed

Part 1: The Unemployment Rate

Complete the following exercise

THE EMPLOYMENT SITUATION -- JUNE 2022

Total nonfarm payroll employment rose by 372,000 in June, and the unemployment rate

remained at 3.6 percent, the U.S. Bureau of Labor Statistics reported today. Notable

job gains occurred in professional and business services, leisure and hospitality,

and health care.

This news release presents statistics from two monthly surveys. The household survey

measures labor force status, including unemployment, by demographic characteristics.

The establishment survey measures nonfarm employment, hours, and earnings by industry.

For more information about the concepts and statistical methodology used in these

two surveys, see the Technical Note.

Household Survey Data

The unemployment rate was 3.6 percent for the fourth month in a row, and the number

of unemployed persons was essentially unchanged at 5.9 million in June. These measures

are little different from their values in February 2020 (3.5 percent and 5.7 million,

respectively), prior to the coronavirus (COVID-19) pandemic. (See table A-1.)

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
Table A-12. Unemployed persons by duration of unemployment HOUSEHOLD DATA Table A12. Unemployed persons by duration of unemployment[Numbers in thousands] Duration Not seasonally adjusted June May June 2021 2022 2022 NUMBER OF UNEMPLOYED Less than 5 we eks 2, 709 1,994 2,964 5to 14weeks 1,933 1,449 1,335 15 weeks and over 5,195 2,105 1,985 15 to 26 we eks 1,276 826 699 27weeks and over 3,918 1,279 1,286 Average {mean} duration, in weeks 3.8 23.2 20.8 Median duration, in weeks 17.6 9.4 5.8 PERCENT DISTRIBUTION Less than 5 weeks 27.4 35.9 46.8 5to 14weeks 20 26.1 21.9 15 weeks and over 52.6 37.9 31.3 15 to 26 we eks 12.9 14.9 11 27weeksand over 39.6 23.1 20.3 June 2021 1,972 2,132 5,311 1,333 3,973 31. 6 19. 6 20.8 23.1 56.1 14.1 42 Seasonally adjusted Feb. 2022 2,131 1,333 2,437 735 1,732 26. 6 9. 6 33. 5 28. 3 38. 3 11.5 26.7 Mar. 2022 2, 239 1, 534 1,999 571 1,423 24. 2 7. 5 38.3 28.2 33.5 9.6 23.9 Apr. 2022 2, 227 1, 517 2,333 551 1,433 37.9 27.5 34.6 9.4 25.2 May 2022 2,355 1, 757 2,317 551 1, 355 22.5 9.6 35.3 30.2 34.5 11.3 23.2 June 2022 2, 252 1, 552 2,339 753 1, 335 22.3 8.5 38.3 26.3 35.4 12.8 22.6 NOTE: Detail forthe seasonally adjusted data shown in this table will not necessarily add to total unemployed in table A1 because of the independent seasonal adjustment of the various series. Updated population controls are introduced annually with the release of January data. Table A-1. Employmentstatus of the civilian population by sex and age HOUSEHOLD DATA Table A-1. Employmentstatus of the civilian population by sex and age [Numbers in thousands] Employment status, sex, and age Not seasonally adjusted Seasonally adjusted(1] June May June June Feb. Mar. Apr. May June 2021 2022 20.22 2021 20 22 2022 202 2 2022 202 2 TOTAL 261,330 263,679 263,835 261,338 263 324 263,444 263,559 263,679 263,835 Civilian noninstitutional population Civilian labor force 162,167 164,157 165,012 161, 114 163,991 164,409 164 046 164,376 164 023 Participation rate 62.1 62.3 62.5 61.6 62.3 62.4 62.2 62.3 62.2 Employed 152,283 158,609 158,678 151, 612 157 722 158,458 158,105 158,426 158,111 Employment- population ratio 58.3 60.2 60.1 58 59.9 60.1 60 60.1 59.9 Unemployed 9,883 5,548 6334 9,507 6,270 5,952 5.941 5,950 5,912 6.1 3.4 3.8 5.9 3.8 3.6 3.6 3.6 3.G Unemployment rate 99,172 99,521 99,812 Not in labor force 98,822 100.224 99.333 99,035 99,513 99.302 Persons who currently want a job 6,869 6,180 6,100 6,427 5,355 5.737 5,859 5, 681 5,656 Men, 16 years and over Civilian noninstitutional population 126,434 128,470 128547 126,434 128,296 128,355 128,411 128,470 128,547 Civilian labor force 86, 227 87 312 87.924 85,443 87,567 87,GGO 87 377 87.306 87 213 68 68.4 67.6 68.3 68 67.8 Participation rate 68 2 683 Emplayed 30.994 84 379 84,690 80,276 84 247 84, 465 84,089 84,218 84 061 Employment-population ratio 64.1 65.7 65.9 63.5 G5. 7 65.8 65.5 65.6 65.4 Unemployed 5,273 2,933 3.234 5,167 3,320 3,195 3,288 3,148 3,152 Unemployment rate 6.1 3.4 3.7 G 3.8 3.6 3.8 3.G 3.G Not in labor force 40,206 41,158 40.624 40,990 40,729 40, 695 41 034 41, 104 41 334 Men, 20 years and over Civilian noninstitutional population 118, 125 119,831 119,899 118,125 119,669 119,726 119,780 119,831 119,899 Civilian labor force 82, 756 84 273 84,179 82, 499 34,446 84, 426 34 295 84,249 84.040 70.3 70 2 69.8 70.6 70.5 70.4 70.1 Participation rate 70.1 7023 Employed 77,973 81,649 81,432 77,665 31,473 81,554 81,334 81, 422 81,242 67.9 65.7 Ga. 1 68.1 67.8 Employment-population ratio GG 68.1 67.9 67.9 Unemployed 4,773 2,624 2,746 4.834 2,973 2.872 2,961 2,827 2,797 5.8 3.1 3.3 5.9 3.5 3.4 3.5 3.4 3.3 Unemployment rate Not in labor force 35,309 35,558 35,721 35, 626 35,224 35,300 35,436 35,582 35,859 Women, 16 years and over Civilian noninstitutional population 134,905 135 209 135,287 134,905 135,028 135,089 135,148 135,209 135,287 Civilian labor force 75,939 76,845 77,089 75,671 76,425 76,749 76,670 77,010 76,809 56.3 56.8 57 56.1 56.G 56.8 56.7 57 56.8 Participation rate 74,208 74 050 Employed 71,289 74 230 73,983 71,336 73,475 73,992 74 017 Employment-population ratio 52.8 54.9 54.7 52.9 54.4 54.8 54.8 54.9 54.7 Unemployed 4, 650 2,615 3,101 4,335 2,950 2,757 2.653 2, 802 2,760 Unemployment rate 6.1 3.4 5.7 3.9 3.6 3.5 3.6 3.6 58,965 58,364 58,198 58,604 58,340 58,479 58, 199 58,478 Not in labor force 59.234 Women, 20 years and over Civilian noninstitutional population 126,770 126,802 126,872 126,770 126,631 126,691 126,749 126,802 126,872 Civilian labor force 72,544 73,782 73,522 72, 756 73,446 73, 695 73,514 73,911 73,741 Participation rate 57.2 58.2 57.9 57.4 58 58.2 58 58.3 58.1 Employed 68,353 71 438 70,890 68, 747 10,775 71,244 71 170 71,432 71 311 Employment-population ratio 53.9 56.4 56.9 54.2 55.9 56.2 56.2 56.3 56.2 Unemployed 4,191 2,293 2.632 4,008 2,671 2,451 2,344 2,479 2,430 Unemployment rate 5.8 3.1 3.6 5.5 3.6 3.3 3.2 3.4 3.3 54,226 53,020 53.350 53,185 52,996 53 234 52,891 53,131 Not in labor force 54,015 Both sexes, 16 to 19 years Civilian noninstitutional population 16,443 17 046 17064 16,443 17 024 17,027 17 030 17,046 17 064 6, 867 6.103 7312 5.859 6.100 6,28 6,237 6,216 6.242 Civilian labor force 36.6 365 36.6 Participation rate 418 35.8 42 9 35.6 35.8 369 5,952 5,472 6356 5,601 5,571 5,558 Employed 5,200 5,474 5,G60 Employment-population ratio 36.2 32.1 37.2 316 32.2 33.2 32.9 32.7 32.G Unemployed 915 631 957 626 629 636 Unemployment rate 13.3 10.3 13.1 11.3 10.3 10 10.2 10.4 11 10,830 10,822 Not in labor force 9.577 10,943 9.752 10,584 10,924 10, 739 10,793 Footnotes (1) The population figures are not adjusted for seasonal variation; therefore, identical numbers appear in the unadjusted and seasonaly adjusted columns. NOTE: Updated population controls are introduced annually with the release of January data

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

International Business

Authors: Alan M. Rugman, Simon Collinson

6th edition

273760971, 978-0273760979

More Books

Students also viewed these Economics questions

Question

Detailed note on the contributions of F.W.Taylor

Answered: 1 week ago

Question

2. To store it and

Answered: 1 week ago