The working age population, employment, unemployment, and labor force are measur

Question

The working age population, employment, unemployment, and labor force are measured in thousands below.
Complete the areas that are blank; show all math/
Working-Age Population: 227,204
Employment: _______________
Unemployment: ______________
Unemployment Rate: 5.0%
labor Force: _______________
Labor Force Participation Rate: 66.1% The working age population, employment, unemployment, and labor force are measured in thousands below.
Complete the areas that are blank; show all math/
Working-Age Population: 227,204
Employment: _______________
Unemployment: ______________
Unemployment Rate: 5.0%
labor Force: _______________
Labor Force Participation Rate: 66.1% The working age population, employment, unemployment, and labor force are measured in thousands below.
Complete the areas that are blank; show all math/
Working-Age Population: 227,204
Employment: _______________
Unemployment: ______________
Unemployment Rate: 5.0%
labor Force: _______________
Labor Force Participation Rate: 66.1%

Explanation / Answer

Solution:

Employment: 142,673

Unemployment: 7,509

labor Force: 150,182

Working:

Working-Age Population: 227,204

Labor Force Participation Rate: 66.1%

Labor force = (227,204 * 66.1) / 100 = 150,182

Unemployed = (Labor force * Unemployment rate)/100

= (150,182 * 5)/100

= 7,509

?

Employed = (Labor force - Unemployed Employed)

= (150,182 - 7,509)

= 142,673

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