The Bureau of Labor Statistics {BLSJ adjusts the numbers from the household survey to estimate the employment picture for the entire population. Once the adjustment is made, the BLS uses the gures to generate key employment indicators. The following table presents information from the household surveys conducted for November 201? and, for purposes of comparison, November 2016. The numbers in the table are listed in thousands. For example, the number of unemployed in the table for November 201? indicates that about 6.6 million people were unemployed at that time. Use the information lists that follow the table to help you ll in the missing vafues in the table. November 2016 201? Civilian noninstitutional population 254,540 255,949 Civilian labor force 159,45? 161,32? Participation rate 62.6% E Employed 152,048 153,918 Employmentpopulation ratio 59.?% E Unemployed ?,409 6,610 Ofcial unemployment rate 4.6% E Unemployed 15 weeks or more 2,929 2,514 U-1 labor underutilization 1.8% \\:l Discouraged workers 5,83? 5,238 U-4 labor underutilization 8.0% E The following list shows you how to compute the statistics most commonly used to indicate the health of an economy: - The participation rate is the percentage of the working-age population in the labor forceeither employed or searching for . . . 159,457 employment. In November 2016, the partICIpatIon rate was 254 5411 x 100 = 62.6%. . The employmentpopulation ratio is the percentage of the workingage population that is employed. In November 2016, the 151114;; 254,540 - The official unemployment rate is the percentage of the labor force that does not have a job but is actively searching for employmentpopulation ratio was x 100 = 59.7%. Discouraged workers 5,837 5.238 U-4 labor underutilization 8.0% \\:| The following list shows you how to compute the statistics most commonly used to indicate the health of an economy: - The participation rate is the percentage of the working-age population in the labor forceeither employed or searching for 159,457 254.540 x 100 = 62.6%. employment. In November 2016, the participation rate was - The employmentpopulation ratio is the percentage of the workingage population that is employed. In November 2016, the . . 152,048 employmentpopulation ratio was 254,540 x 100 = 59.7%. - The ofcial unemployment rate is the percentage of the labor force that does not have a job but is actively searching for \""9 x 100 = 4.6%. employment. In November 2016, the oFcial unemployment rate was 159457 To get a more accurate picture of underemployment in the economy, the BLS calculates several alternative measures of labor underutilization: - The U-1 measure of labor underutilization measures the percentage of the labor force that has been unemployed for 15 weeks or . 2,929 more at the time of the household survey. In November 2016, U1 was 15045? x 100 = 1.8%. - Another measure, the U4 measure of labor underutilization, treats discouraged workers as though they were unemployed and part ofthe labor force. To calculate U-4, the BLS divides the sum of unemployed and discouraged workers by the sum of the labor mail'35" x 100 = 8.0%. force and discouraged workers. In November 2016, U4 was m Based on the numbers in the previous table, indicate whether each of the following statements accurately descrlbes the dlh'erences in the employment sltua tion between November 2016 and November 201 7. Statement True False "he typical unemployed worker in November 2017 was more likely to have been unemployed for 15 weeks or more than the typical unemployed worker in November 2016. "he U1 and U-4 measures of labor underutilization were lower in November 201? than they were in November 2016. -:j ':- -:j :- To get a more accurate picture of underemployment in the economy, the BLS calculates several alternative measures of labor underutilization: . The U-1 measure of labor underutilization measures the percentage of the labor force that has been unemployed for 15 weeks or more at the time of the household survey. In November 2016, U-1 was 2,929 159,457 X 100 = 1.8%. . Another measure, the U-4 measure of labor underutilization, treats discouraged workers as though they were unemployed and part of the labor force. To calculate U-4, the BLS divides the sum of unemployed and discouraged workers by the sum of the labor force and discouraged workers. In November 2016, U-4 was 159 4574 5,837 x 100 = 8.0%. 7,40945,837 Based on the numbers in the previous table, indicate whether each of the following statements accurately describes the differences in the employment situation between November 2016 and November 2017. Statement True False The typical unemployed worker in November 2017 was more likely to have been unemployed for 15 weeks or more than the O O typical unemployed worker in November 2016. The U-1 and U-4 measures of labor underutilization were lower in November 2017 than they were in November 2016. O O A smaller fraction of the civilian noninstitutional population was in the labor force in November 2017 than in November 2016. O O A smaller number of jobless people who wanted a job and were available to work had given up on their job search in November O O 2017 compared to November 2016. In November 2017, a larger fraction of the civilian noninstitutional population was employed than in November 2016. O O The official unemployment rate and the U-4 measure of labor underutilization are two different measures of joblessness in the economy. If the Bureau of Labor Statistics were to include discouraged workers in the official unemployment rate, the reported unemployment rate wouldThe following table contains some employment information from the establishment surveys for September 2017 and October 2017. The numbers in the table are listed in thousands. For example, the number of employed in the table for September 2017 indicates that about 147.0 million people were employed at that time. Employment Average Weekly Hours (Thousands of workers) Industry September 2017 October 2017 September 2017 October 2017 Total nonfarm payroll employment 146,963 147,234 34.3 34.4 Manufacturing 12,469 12,489 40.8 41.0 Construction 6,971 6,988 38.8 39.0 Trade, transportation, and utilities 27,525 27,553 34.4 34.5 Total nonfarm payroll employment by workers from September 2017 to October 2017. The average weekly hours of a nonfarm payroll employee Which of the industries listed experienced the largest change in the number of workers from September 2017 to October 2017 in absolute value? O Construction O Manufacturing O Trade, transportation, and utilities Workers in which of the industries listed worked the fewest hours per week on average in October 2017? O Construction O Manufacturing O Trade, transportation, and utilitiesThe following table contains some employment information from the establishment surveys for September 2017 and October 2017. The numbers in the table are listed in thousands. For example, the number of employed in the table for September 2017 indicates that about 147.0 million people were employed at that time. Employment Average Weekly Hours (Thousands of workers) Industry September 2017 October 2017 September 2017 October 2017 Total nonfarm payroll employment 146,963 147,234 34.3 34.4 Manufacturing 12,469 12,489 40.8 41.0 Construction 6,971 6,988 38.8 39.0 Trade, transportation, and utilities 27,525 27,553 34.4 34.5 Total nonfarm payroll employment by workers from September 2017 to October 2017. The average weekly hours of a nonfarm payroll employee decreased Which of the industries listed exper increased rgest change in the number of workers from September 2017 to October 2017 in absolute value? Construction O Manufacturing O Trade, transportation, and utilities Workers in which of the industries listed worked the fewest hours per week on average in October 2017? O Construction O Manufacturing Trade, transportation, and utilitiesThe following table contains some employment information from the establishment surveys for September 2017 and October 2017. The numbers in the table are listed in thousands. For example, the number of employed in the table for September 2017 indicates that about 147.0 million people were employed at that time. Employment Average Weekly Hours (Thousands of workers) Industry September 2017 October 2017 September 2017 October 2017 Total nonfarm payroll employment 146,963 147,234 34.3 34.4 Manufacturing 12,469 12,489 40.8 41.0 Construction 6,971 6,988 38.8 39.0 Trade, transportation, and utilities 27,525 27,553 34.4 34.5 Total nonfarm payroll employment by workers from September 2017 to October 2017. The average weekly hours of a nonfarm payroll employee Which of the industries listed es did not change gest change in the number of workers from September 2017 to October 2017 in absolute value? decreased O Construction increased O Manufacturing Trade, transportation, and utilities Workers in which of the industries listed worked the fewest hours per week on average in October 2017? Construction Manufacturing Trade, transportation, and utilities