Unemployment and Inflation End of Chapter Problem

Labor force (thousands)		Unemployment (thousands)
Region	July 2015	July 2016	July 2015	July 2016
Northeast	28,397	28,565	1,459	1,377
South	57,297	58,022	2,978	2,720
Midwest	34,489	34,996	1,627	1,585
West	36,949	37,543	2,099	1,985

5. A countrys labor force is the sum of the number of employed and unemployed workers. The accompanying table provides data on the size of the labor force and the number of unemployed workers for different regions of the United States.

_{Data from: Bureau of Labor Statistics} a. Calculate the number of workers employed in the Midwest region in July 2015 and July 2016. Use your answers to calculate the change in the total number of workers employed between July 2015 and July 2016.

Round each answer to the nearest thousand.

July 2015:

July 2016:

Employment change:

b. Calculate the growth in the labor force in the Midwest region from July 2015 to July 2016.

Round your answer to the nearest thousand.

Labor force growth:

c. Compute unemployment rates in the Midwest region of the country in July 2015 and July 2016.

Round your answer to the nearest tenth of a percent.

2015:

%

2016: