Ol2lponia use s the same method to calculate the unemployment rate as the U.S. B

Question

Ol2lponia use s the same method to calculate the unemployment rate as the U.S. Bureau of Labor Statistics uses (20 points):. a. From the data below, compute Ziponia's unemployment rate? b. how large is Ziponia's labor force? c. How many discouraged workers live in Ziponia? d. Not all of Ziponia's citizens are accounted for in part (a), how are the missing citizens classfied? Give some examples of what they may be doing. How many of Ziponia's citizens are not in the labor force? e. Population 60,000 Under 16 9,000 Over 16: 600 60 200 46,000 2.140 In military service In prison Searched for work during previous four weeks job if one were offered In hospitals Worked one hour or more in previous week Did not work in previous week but would have taken a 200

Explanation / Answer

a.The unemployment rate = 2140/(2140 + 46,000)= 4.4%.

B) There are 48,140 people in Ziponia’s labor force (46,000 +2140 = 48140)

C) There are 200 discouraged workers in Ziponia. Those who did not work in previous week but would have taken a job if one were offered.

D) The missing 1800 citizens (= 60,000 – 9,000 – 600 – 60 – 46,000 – 2,140 – 200) are not in the labor force. Perhaps they are retired, full time students, independently wealthy, or stay-at-home parents.

E) 11,860 (including those under 16, and those over 16 who are either in the military service, in hospitals, in prison, not working but who would take a job, or who are missing as referred to in part (d).

(9000 + 600 +60 + 200 +200 + 1800)

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