. The U.S. Bureau of Labor Statistics[1] reported the following data for May 2016:

Workforce: 150,696,000

Employment: 144 041 000

Working-age population: 228 428 000

Calculate for that month:

to. The unemployment rate.

b. The labor force participation rate.

c. The ratio of employment to population.

2. In August 2005, in the New Orleans metropolitan area, the labor force was 634,512 and 35,222 people were unemployed. In September 2005, after Hurricane Katrina, the workforce decreased by 156,518 and the number of employees decreased by 206,024.

Calculate the unemployment rate for August and September 2005.

3. In July 2007, Sandy's economy had 10,000 people employed, 1,000 unemployed and 5,000 out of the labor force. During the month of August 2007, 80 people lost their jobs, 20 resigned, 150 were hired or rehired, 50 retired from the labor force, and 40 entered or re-entered the labor force. Calculate for July 2007:

to. The unemployment rate.

b. The ratio of employment to population.

Also, estimate by the end of August 2007:

c. The number of unemployed persons.

d. The number of persons employed.

and. The unemployment rate.

1. Section 2 PRACTICE EXERCISES:

1.La U.S. Bureau of Labor Statistics reported the following CPI data:

June 2014: 189.7

June 2015: 194.5

June 2016: 202.9

a. What do these figures tell you about the level of

prices in these three years?

b. Calculate inflation rates for the years that ended[1] in June 2015 and June 2016.

c. How did the inflation rate change in 2016?

2.The only thing a typical Sandy Island family consumes is juice and fabric. Last year, which was the base year, the family spent $40 on juice and $25 on fabric. In the base year, juice cost $4 per bottle and fabric $5 per cut. This year, juice costs $4 per bottle and fabric $6 per cut.

Calculate:

to. The basic basket.

b. The CPI for the current year.

c. The inflation rate for the current year.

2. The IMF's World Economic Outlook reports the following price level data (2000 100):

Region 2003 2004 2005

United States 106.8 109.7 113.4

Euro zone 106.7 109.0 111.4

Japan 98.1 98.1 97.8

a. Which of these regions had the highest inflation rate before 2004 and which after 2004?

b. Describe the trajectory of the price level in Japan