Discouraged workers: First blank: 86,972,000 or 7,820,000 or 8,221,000 second bl

Question

Discouraged workers:

First blank: 86,972,000 or 7,820,000 or 8,221,000

second blank: 232,995,000 or 154,244,000 or 153, 843,000

third:8,221,000 or 7,820,000 or 86,972,000

fourth: same options as second blank

Official unemployment rate: 5.36% or 5.08% or 5.33% or 94.92%

unemployment rate with discouraged workers: 5.34% or 5.08 % or 5.33% or 5.07%

last blank: increase or decrease

Which of the following statements correctly describe discouraged workers? Check all that apply. They are employed workers who are looking for better positions elsewhere They have searched for a job sometime within the last 12 months but have now stopped looking They are counted as partially employed by the Bureau of Labor Statistics They are the people who did 15 hours of unpaid work in a family-operated enterprise. The following table contains employment information for the United States from March 2008 Civilian Non-Institutional Population (16 years old and over) 232,995,000 Employed (Number of people) 146,023,000 Unemployed (Number of people) 7,820,000 Discouraged (Number of people) 401,000 The Bureau of Labor Statistics (BLS) calculates the official unemployment rate using the following formula: Unemployed Unemployment Rate = x 100% Labor Force Note that the official unemployment rate does not account for discouraged workers. Under the BLS definition, the total number of unemployed workers IS and the total labor force is If discouraged workers were to be included, the total number of unemployed workers would be and the total labor force would be Fill in the following table by calculating the official unemployment rate using these two different methods. Round your final answers to two decimal points. For example, (0.03467 x 100%) rounds to 3.47% Official Unemployment Rate Unemployment Rate with Discouraged Workers

Explanation / Answer

1) They have searched for a job sometime within the last 12 months but have now stopped looking.

2) 7820,000

3) Labor force = Employed + Unemployed = 146,023,000 + 7,820,000 = 153843000

4) Unemployed workers = 7,820,000 + 401,000 = 8221000

5) Labor force = 8221000 + 146023000 = 154244000

6) Official unemployment rate = Unemployed / Labor force x 100 = 7820,000/153843000 x 100 = 5.08%

7) Unemployment rate with discouraged workers = 8221000/154244000 x 100 = 5.33%

8) Increase

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