Calculate the missing values in the table below by using the provided data colle
ID: 1150507 • Letter: C
Question
Calculate the missing values in the table below by using the provided data collected in the household survey for December 2017. (Enter your responses as whole numbers.)
Category
Value
Working-age population**
?
Employed**
154 comma 021154,021
Unemployed**
?
Unemployment rate
4.14.1%
Labor force**
?
Labor force participation rate
62.762.7%
** Numbers in thousands
*Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.
Category
Value
Working-age population**
?
Employed**
154 comma 021154,021
Unemployed**
?
Unemployment rate
4.14.1%
Labor force**
?
Labor force participation rate
62.762.7%
Explanation / Answer
Unemployment rate= Unemployed/(Unemployed+Employed)*100=4.1%
4.1=100U/(154021+U)
U=6584.9=6585
Labour Force + (Unemployed+Employed)=154021+6585=160606
Labour Force Participation Rate=(U+E)/ Working Age Population=160606/P=62.7%
Working Age Population (P)=256150
Category
Value
Working-age population**
256,150
Employed**
154,021
Unemployed**
6585
Unemployment rate
4.10%
Labor force**
160,606
Labor force participation rate
62.70%
Category
Value
Working-age population**
256,150
Employed**
154,021
Unemployed**
6585
Unemployment rate
4.10%
Labor force**
160,606
Labor force participation rate
62.70%
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