The US Bureau of Labor Statistics reports the most recent seasonally adjusted mo

ID: 1216701 • Letter: T

Question

The US Bureau of Labor Statistics reports the most recent seasonally adjusted monthly statistics for the nation, which are listed below.

Population: 209,543,000

labor force(Employed and Unemployed): 140,757,000

not in labor force: 68,786,000

employed: 135,183,000

Unemployed(not employed but looking for work): 5,574,000

Use the data to calculate the following questions:

a. Calculate labor force size (# of people in labor force) and labor force participation rate (LFPR).

b. Calculate employment population ratio (EPR) and unemployment rate (UR).

labor force participation rate=(labour force/population)x100=67.17%

employment population ratio=employed/total population=.6451

unemployment rate=unemployed/labor force=.0396

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