A v Normal No Spacing Heading 1 Heading 2 Chapter 22 Homework (10 Points) Student Name: Date of Submission: https://www.bls.govews.release/empsit.t01.htm 1. Refer the information given in the link above. Show your work for the calculation of the Unemployment rate and Labor Force Participation Rate (Seasonally adjusted February 2022) for the following categories: 1. Men 20 years and above 2. Women 20 years and above 3. Both sexes 16 to 19 years Note: The unemployment rate and labor force participation rate are already calculated by BLS and is given in the link. You must show how it is calculated using the formula shown in the power points (slides 5 and 6). Round off your answers to two decimal places. 2. Refer the Information given in the link below. https://www.bls.govews.release/cpi.101.htm Show your work for the calculation of the Inflation rate (January 2021 - January 2022) for the following items: 1. Food 2. Motor Fuel 3. Gasoline 4. Rent of Primary Residence 5. Airline Fares Inflation Rate: [CPI in year 2 - CPI in Year 1] / CPI in Year 1 x 100Unemployment rate: The ratio of the number of people unemployed to the total number of people in the labor force. Unemployment rate = Unemployed X 100 Labor Force Labor Force = Unemployed + Employed Labor force participation rate: The ratio of the labor force to the total population 16 years old or older. Labor Force Participation rate = labor Force X 100 Population above 16 Years Measuring Unemployment Computing the unemployment rate for the month of Dec 2009: - Civilian Non Institutional Population: 236,924 thousands - Labor force: 153,059 thousands - Employed: 137,792 thousands - Unemployed: 15,267 thousands - Labor force Participation Rate = (153,059 / 236,924) X 100 = 0.646 x 100 = 64.6% - Unemployment rate = (15267/153059) x 100 = 0.10X100 = 10%