Question
Suppose the civilian noninstitutionalized working-age population is 35.935.9 million in in a hypothetical economy. Of these, 4.64.6 million are working part-time and 15.7115.71 million are
Suppose the civilian noninstitutionalized working-age population is 35.935.9 million in in a hypothetical economy. Of these, 4.64.6 million are working part-time and 15.7115.71 million are working full-time. Assume the Bureau of Labor Statistics (BLS) definitions are used for calculating unemploymentdata.
Among those not working, the most recent job-search activity for 3.203.20 million happened less than two weeks ago, while 1.721.72 million most recently looked for work between two and four weeks ago. An additional 0.860.86 million most recently looked for work five weeks ago, and the remaining 9.819.81 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimalplaces.
How many people are unemployed?
What is the labor force participation rate?
What is the unemployment rate?
Step by Step Solution
There are 3 Steps involved in it
Step: 1
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