What was unemployment rate and employment rate

Assignment Help Business Economics

Reference no: EM13834246

(All numbers in the thousands) In May 2015, the civilian non-institutional population was 250,455. The number of employed workers was 148,795. The number of unemployed workers was 8,674. The number not in the labor force is 92,986.

a. What was the unemployment rate? The labor force participation rate? The employment rate?

b. Why might the unemployment rate underestimate the severity of an economic downturn?

Reference no: EM13834246

Questions Cloud

Graph and fully label gregs non-linear budget constraint : Greg earns $10 per hour for work for up to 30 hours of work each week. He is paid $15 dollars per hour for every hour in excess of 30. Greg faces a 15 percent tax rate and pays 3 dollars an hour in child-care expenses for each hour he works. When gra..

Non-labor income change generate a substitution effect : What happens to hours of work when non-labor income decreases? Does such a non-labor income change generate a substitution effect? Why might we expect welfare programs create work disincentives? What happens to the probability that a particular perso..

Prepare a cashflow statement for the aussteel project. : Prepare a cashflow statement for the AusSteel project - Calculate the NPV and IRR for AusSteel's proposed project.

What was unemployment rate and employment rate : (All numbers in the thousands) In May 2015, the civilian non-institutional population was 250,455. The number of employed workers was 148,795. The number of unemployed workers was 8,674. The number not in the labor force is 92,986. What was the unemp..

What are the main components of the australian legal system : What are the main components of the Australian legal system? What are the key principles and practices for upholding the rights of the children and other clients?

Convert the rectangular coordinate into polar coordinates : Convert the rectangular coordinate (-8,i (square root of 3) into polar coordinates.

List the characteristics of technological : List the characteristics of Technological or medical breakthroughs humans have made because of this class of arthropods.

What is toms reservation wage : Tom gains utility from consumption C and leisure L. The most leisure she can consume in any given week is 112 hours. His wage is $20. His utility function is U(C,L) = C^3/4*L^1/4. Tom receives 640 each week from her great-grandmother. What is the mar..

User Account

All Pages