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Use the following data to calculate the unemployment rate. and answer the questions below total adult population = 256,436 persons under 16 = 75,126 total
Use the following data to calculate the unemployment rate. and answer the questions below total adult population = 256,436 persons under 16 = 75,126 total U.S. population = 332,568 # people working = 162,128 retirees = 85,745 total labor force = 172,476 discouraged workers = 15,546 part-time employed = 23,854 1. What is the unemployment rate? 2. Calculate an alternative measure of unemployment by counting discouraged workers as unemployed and counting part time employed as 1/2 employed and 1/2 unemployed. 3. Discuss under what conditions in the labor market it might be more accurate to use one method versus the other
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