Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Question 5 a) Statistics Canada counts as employed people who work part-time but would prefer to work full-time. Suppose the people who had part-time
Question 5 a) Statistics Canada counts as employed people who work part-time but would prefer to work full-time. Suppose the people who had part-time jobs, but wanted full-time jobs, were counted as unemployed. Explain how the unemployment rate and the labour force participation rate would change. b) The labour force survey does not count discouraged workers as unemployed. Suppose discouraged workers were counted as unemployed. Explain how the unemployment rate and the labour force participation rate would change. c) How would the unemployment rate and the labour force participation rate change if discouraged workers were counted as unemployed rather than counted as not in the labour force? Show using the formula for both measurements. d) Suppose 180,000 people are employed, 20,000 people are unemployed, the working-age population is 250,000, and 50,000 people are not in the labour force. Calculate the unemployment rate.
Step by Step Solution
There are 3 Steps involved in it
Step: 1
a If people who work parttime but would prefer to work fulltime were counted as unemployed both the ...Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started