Question: Question3 3. (20 pts) Consider Table 7.1 for the following questions: Table 7.1: U.S. Employment Status (in thousands) Jan 2012 Jan 2013 Civilian noninstitutionalized 242,269

Question3

3. (20 pts) Consider Table 7.1 for the following questions: Table 7.1: U.S. Employment Status (in thousands) Jan 2012 Jan 2013 Civilian noninstitutionalized 242,269 244,663 population Unemployed 12,748 12,332 Employed 141,608 143,322 Not in Labor Force 87,913 89,008 a. Find the unemployment rate for Jan 2012 and Jan 2013. b. Find the employment-population ratio for Jan 2012 and Jan 2013

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