a. The bureau of labor statistics (BLS) announced in April 2015, of all adult Am

Question

a. The bureau of labor statistics (BLS) announced in April 2015, of all adult Americans, 139, 455, 000 were employed, 15,260,000 were unemployed, and 82,614,000 were not in the labor force. Use this information to calculate: (no steps shown no points) (i) adult population; (ii) the labor force; (iii) labor-force participation rate; (iv) unemployment rate.

(b)(5 points) Are the following workers more likely to experience short-term or long-term unemployment? You must explain why? (i) A construction worker laid off because of bad weather; (ii) A manufacturing worker loses his job at a plant in an isolated area; (iii) A stagecoach-industry worker laid off because of competition from railroads; (iv) A home based cook-caterer loses his job when a new restaurant opens across street; (v) An expert welder with little formal education loses his job when the company installed automatic welding machine.

Explanation / Answer

b) i. Adult population: 237,329,000.

ii. 154,715,000.

iii. 58.76%

iv. 6.43%.

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i) A construction worker laid off because of bad weather, but he is sure to regain his employment once the weather conditions improve and the work commences. It's just a short-term unemployment.

ii) A manufacturing worker loses his job at a plant in an isolated area because there are probably few other employment opportunities in the area and is likely to experience long-term unemployment.

iii) A stagecoach-industry worker laid off because of competition from railroads: He is likely to remain unemployed for a long time because the entire industry in troubled waters. He needs to acquire additional skills to gain entry into some other industry.

iv) A home based cook-caterer loses his job when a new restaurant opens across street:

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