The following table shows a group-by-group breakdown for a hypothetical economy. Group Number of people Population (aged 16 and over) 10,000 Labor force 6,000 Not currently working 4,500 Employed full-time 4,000 Employed part-time 1,500 Unemployed 500 Based on the table, the employment/population ratio is %. (Round your answer to the nearest tenth.)

The following table shows a group-by-group breakdown for a hypothetical economy. Group Number of people Population (aged 16 and over) 10,000 Labor force 6,000 Not currently working 4,500 Employed full-time 4,000 Employed part-time 1,500 Unemployed 500 Based on the table, the employment/population ratio is %. (Round your answer to the nearest tenth.)

ECON MICRO

5th Edition

ISBN:9781337000536

Author:William A. McEachern

Publisher:William A. McEachern

Chapter18: Poverty And Redistribution

Section: Chapter Questions

Problem 1.1P

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16 . Critical analysis Q7

The following table shows a group-by-group breakdown for a hypothetical economy.

Group	Number of people
Population (aged 16 and over)	10,000
Labor force	6,000
Not currently working	4,500
Employed full-time	4,000
Employed part-time	1,500
Unemployed	500

Based on the table, the employment/population ratio is %. (Round your answer to the nearest tenth.)

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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