no handwritten notes By keeping track of discouraged and underemployed workers, Statistics Canada gets a clearer picture of the true employment situation than if itlooked only at the number of unemployed workers.Which of the following statements correctly describe discouraged workers? Check all that apply.They are full-time workers who would like to work only part-time.They are available for work.They are not in the labour force.They have not looked for work during the past four weeks.Consider a hypothetical economy in which the labour force consists of 100 people. Of those, 90 people are employed full-time and 10 people areunemployed. The government of this economy follows the same conventions as Statistics Canada in computing its employment figures. Theunemployment rate is calculated as the number of unemployed people divided by the number of people in the labour force:Unemployment Rate =Number of Unemployed PeopleLabour Forcex 10010010%Suppose a reduction in foreign demand for this economy's products causes an economic recession-a prolonged period of declining output. Thefollowing table presents two possible scenarios resulting from the recession.Calculate the unemployment rate associated with each scenario. ScenarioA. Firms reduce work hours by 25%. The number of underemployed workers rises asfirms respond to the reduction in demand for their products by reducing the hours of eachemployed person from 40 to 30 hours per week.B. The number of unemployed workers rises as firms respond to the reduction in demandfor their products by laying off ten previously employed workers.The unemployment rate in scenario Atime workers as employed.Unemployment Rate%▼ the true extent of underemployment in the economy, because Statistics Canada counts part-

we'll analyze statements about discouraged workers and calculate unemployment rates in different…

Scenario A. Firms reduce work hours by 25%. The number of underemployed workers rises as firms respond to the reduction in demand for their products by reducing the hours of each employed person from 40 to 30 hours per week. B. The number of unemployed workers rises as firms respond to the reduction in demand for their products by laying off ten previously employed workers. The unemployment rate in scenario A time workers as employed. Unemployment Rate % the true extent of underemployment in the economy, because Statistics Canada counts part-

Scenario A. Firms reduce work hours by 25%. The number of underemployed workers rises as firms respond to the reduction in demand for their products by reducing the hours of each employed person from 40 to 30 hours per week. B. The number of unemployed workers rises as firms respond to the reduction in demand for their products by laying off ten previously employed workers. The unemployment rate in scenario A time workers as employed. Unemployment Rate % the true extent of underemployment in the economy, because Statistics Canada counts part-

MACROECONOMICS FOR TODAY

10th Edition

ISBN:9781337613057

Author:Tucker

Publisher:Tucker

Chapter6: Business Cycles And Unemployment

Section: Chapter Questions

Problem 10SQ

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how does Statistics Canada measures the actual unemployment rate for Canada for a given year.
The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2017. Age Employed Unemployed Not in Labor Force (Thousands of People) (Thousands of People) (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 Source: “Labor Force Statistics from the Current Population Survey.
A country's total civilian non institutional adult population is 1 million, and 500,000 people in this country are working, with another 20,000 looking for work. Which of the following statements about the labor force statistics in this country is accurate? a) The employment rate is 50% and the unemployment rate is 2% b) The unemployment rate is 2% and the labor force participation rate is 52% c) The employment rate is 96.15% and the labor force participation rate is 52% D) the labor force is 500,000 and the labor force participation rate is 50% How is this answer calculated?
The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2017. Age Employed Unemployed Not in Labor Force (Thousands of People) (Thousands of People) (Thousands of People) 16 to 19 years 5,074 827 10,853 20 to 24 years 14,132 1,127 6,137 25 to 54 years 98,833 3,850 23,014 55 to 64 years 26,064 835 14,792 65 years and over 9,234 343 39,964 Total 153,337 6,982 94,759 Source: “Labor Force Statistics from the Current Population Survey.”Bureau of Labor Statistics. What is the national unemployment rate? 2.7% 4.4% 7.4% 59.1% Complete the following table by computing the unemployment rate for each age group. Age Unemployment Rate 16 to 19 years 20 to 24 years 25 to 54 years 55 to 64 years 65 years and over Which of the following groups has an unemployment rate lower…
Unemployment and the Labor Force Suppose the civilian non-institutionalized working-age population is 35.9 million. Of these, 4.6 million are working part-time and 15.71 million are working full-time. Bureau of Labor Statistics (BLS) definitions are used for. calculating unemployment data. Among those not working, the most recent job-search activity for 3.20 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 9.81 million who do not have jobs have not looked for work in the past six weeks. Round your answers to two decimal places. A) What is the size of the total labor force? B) How many people are unemployed? C) What is the labor force participation rate? D) What is the unemployment rate?
A country has a total population of 500 people. Of those, 50 are under the age of 16 or institutionalized. 100 are retired. The rest are in the labor force. Of those in the labor force, 25 are part-time workers that would like to be working full time. There are 30 unemployed workers. What is the unemployment rate (rounded to the nearest whole percentage point)?
The country of Bada has collected the following information: Population (working age). 240,000 Employed 180,000 Unemployed 30,000 Calculate: Labor Force = Unemployment rate = Labor-force participation rate = Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force. Steve worked forty hours last week in a Music Supply store.
The country of Bada has collected the following information: Population (working age). 240,000 Employed 180,000 Unemployed 30,000 Calculate: Labor Force = Unemployment rate = Labor-force participation rate = Classify each of the following individuals in one of the following categories: employed, unemployed, or not in the labor force. Roger lost his job at the R-gone Manufacturing Company. Since then he has been trying to find a job at other local factories.
Susie is a 15-year-old who is looking to work as a babysitter. However, no one has hired her. How would the BLS classify Susie in the current population survey when measuring the unemployment rate? A) Susie would be considered unemployed B) Susie would not be considered part of the relevant population used to measure unemployment because only individuals who are 16 or older are included. C) Susie would be considered employed D) Susie would be considered as Not in the Labor Force
Calculate unemployment rate if adult population of the nation is 800 people of which 450 people are working and 30 are looking for working.
2. Discouraged workers Which of the following statements correctly describe discouraged workers? (If none of the choices apply, leave all of the checkboxes blank.) Check all that apply. They are counted as part of the labor force by the Bureau of Labor Statistics. They are full-time workers who would like to work only part-time. They have given up on looking for a job. They are employed workers who want to earn higher wages. The following table contains U.S. employment information from June 2019. Civilian Population (Persons 16 years old and over) 259,037,000 Employed Unemployed (Persons) (Persons) 157,005,000 5,975,000 Discouraged (Persons) 425,000 The Bureau of Labor Statistics has several measures of joblessness in addition to the official unemployment rate. One alternative is the U-4 measure of labor underutilization, which is calculated as follows:
In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Swedish adult non- institutionalized population was 7.568 million, the labor force was 4.888 million, and the number of people employed was 4.486 million. According to these numbers, the Swedish labor-force participation rate and unemployment rate were about 64.6% and 8.2%. 64.6% and 5.3%. 59.3% and 8.2%. 59.3% and 5.3%.