Question: The BLS reported the following data for 2010: Labor force: 153.7 million Employment: 139.1 million Working-age population: 237.9 million Calculate: Unemployment rate, Labor force participation

The BLS reported the following data for 2010:

  • Labor force: 153.7 million
  • Employment: 139.1 million
  • Working-age population: 237.9 million
  1. Calculate: Unemployment rate, Labor force participation rate & Employment-to-population ratio. Explain your answer (how you have done calculation)
  2. What distinguishes an unemployed person from one who is not in the labor force?
  3. Define frictional unemployment, structural unemployment, and cyclical unemployment. Give examples of each type of unemployment.
  4. Why is the unemployment rate never zero, even at full employment?

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Economics Questions!

Q:

: 2013 2012 Quantities 160 60 Apples 220 Oranges 2013 2012 Prices $ 1.00 50.50 Apples 2.00 50.25 Oranges An economy produces only apples and oranges . The base year is 2012 and the table gives the...

Q:

The Bureau of Labor Statistics reported the following data for 2010: Labor force: 153.7 million Employment: 139.1 million Working-age population: 237.9 million Calculate the: a. Unemployment rate. b....

Q:

9. Statistics Canada reported the following data for 2016: Labour force: 19.4 million Employment: 18.1 million Working-age population: 29.6 million Calculate the a) Unemployment rate (2 Marks) b)...

Q:

The BLS reported the following data for 2010: Labor force: 153.7 million Employment: 139.1 million Working-age population: 237.9 million Calculate the a. Unemployment rate. b. Labor force...

Q:

Mail - Waggoner, Matt - Out| X B 1.4 Assignment: Study Plan | X @ Homepage - Indiana Wesley X VitalSource Bookshelf X G Grammarly x ECO-331 Macro 1.4.docx X + C bookshelf....

Q:

1 3 . The Bureau of Labor Statistics reported the following data for 2 0 0 8 : Labor force: 1 5 4 , 2 8 7 , 0 0 0 Employment: 1 4 5 , 3 6 2 , 0 0 0 Working - age population: 2 3 3 , 7 8 8 , 0 0 0...

Q:

https://www.forbes.com/sites/wadeshepard/2019/10/03/what-china-is-really-up-to-in-africa/?sh=5fcefc7e5930 Questions:- 1. What are the costs and benefits for Africa as a result of China's role in...

Q:

2) A bond pays 4% interest for four years; has a future value of $1000. Calculate the present value of this bond, if the market rate is 5%. 3) Calculate the annual market interest rate if bond price...

Q:

3) Calculate the annual market interest rate if bond price is $920 and its maturity value is $1000. 4) How would decrease in price level affect the demand for money? Support your answer with the help...

Q:

4) How would decrease in price level affect the demand for money? Support your answer with the help of a diagram. 5) think about what kind of country is Canada. These are opinion-based questions. In...

Q:

Apply stepwise regression using each selection rule and p value criterion to find a good model for predicting the number of points scored per game by football teams using the data in the Excel file...

Q:

Explain the relationship between the income statement and the reconciliation of retained earnings.

Q:

True or False: People with formal authority rarely rely on informal authority.

Q:

In my opinion. we ought to slop making our own drums and accept that outside supplier's offer? said Win, Niewindt, managing director of Antilles Refining, NV.. of Aruba 'At a price of $70 per drum,...

Q:

Write a C++ program that calculates and prints the monthly paycheck for an employee. The net pay is calculated after taking the following deductions: Federal Income Tax: 15% State Tax: 3.5% Social...

Q:

LSports America is in the business of designing and manufacturing running shoes for long distance runners. They are considering a $300 million upgrade to their production line for the smart watch-...

Q:

a) Show the linked representation of the following graph in a memory C) B A E) D

Q:

Find L ] 22 (st (s+4)3 O 11te-4t O 1ltet O 11t'e-4t t?e-4t

Q:

Identifying How Machine Learning Can Solve Problems What problem would you like your machine learning model to solve? What output would you like your machine learning model to produce? How will you...

Q:

Does this future have a sound, an image, a taste or a smell that you can evoke here and now?

Q:

2. In this chapter, the reader should reflect on the following concepts: benchmark-ing, competence development, thought dispositions, identity and perception.

Q:

Is it necessary to change something in your everyday life in order for you to achieve the goal?