4.) Unemployment The table below shows the results of a labor survey for an belo

Question

4.) Unemployment The table below shows the results of a labor survey for an below hbersto swer the questions Population Working Non- Labor employed unemployed working orce age population age population Total 20,000,000 13,000,000 7,000,000 7440,0006,940,000 500,000 Men 10,600,000 6,900,000 3.700,0005,800,000 5,740,000 60,000 Women 9,400,000 6,100,000 3,300,000 1,640,000 1,200,000 440,000 Calculate the unemployment rate for the whole country and calculate the unemployment rate for men and woman separate. (1.5 Points) Unemployment Total: Unemployment Men: Unemployment Women: Calculate the labor force participation rate for the whole country and calculate the labor force participation rate for men and woman separate. (1.5 Points) Labor Force Participation Rate Total: Labor Force Participation Rate Men: Labor Force Participation Rate Women

Explanation / Answer

Unemployment Rate = (number of unemployed persons / Labor force)

Total Unemployment rate = 500,000 / 7,440,000 = 0.0672 or 6.72%

Men Unemployment rate = 60,000 / 5,800,000 = 0.0103 or 1.03%

Women Unemployment rate = 440,000 / 1,640,000 = 0.268 or 2.68%

Labor force participation rate = Labor Force / Working age population (or adult population)

Total Labor force participation rate = 7,440,000 / 13,000,000 = 0.5723 or 57.23%

Men Labor force participation rate = 5,800,000 / 6,900,000 = 0.8406 or 84.06%

Women Labor force participation rate = 1,640,000 / 6,100,000 = 0. 2689 or 26.89%

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