the last question choices are overstate understate Employed Unemployed (is vears

Question

the last question choices are

overstate
understate

Employed Unemployed (is vears old and over) Number of people) (Number of people) (Number of people) 235,086.000 The Buresu of Labor Stabatia (B15) ralou lates the official unemplayment rate ueing th folting formua unemplayed Nobe that the official unemployment rate does rot accourt for dscouraged workers. Under the BLS definition, the totai namber of unemploped workers & f duicouraged warkers mere to be included, the total number of unemployed warkers would be Fil in te folo-n’ table tv calculating the rrrial unempl ,men, rate usng these two dmerent methods. Round your nal answers to two deomo, poms Forewmple, ro.03467x 100%) rounds to 3.47%. Unerployment Rate with Discouraged Workers Based on your tcalculabonis, excudng dscouraged workers from the offca unemployment race may cause the official race to the true extent uf underemplaryment.

Explanation / Answer

1. Unemployed person = 13,161,000

2. Total labor force = Number of employed + Number of unemployed = 140,587,000 +13,161,000 = 153,748,000

3. Total number of unemployed workers if discouraged workers are included = Unemployed + Discouraged

= 13,161,000 + 685,000 = 13,846,000

4. Total labor force = New number of unemployed + Number of employed = 13,846,000 + 140,587,000 = 154,433,000

5. Unemployment rate = Number of unemployed persons / Labor force X 100 = 13,161,000 / 153,748,000 X 100

= 8.56%

6. Unemployment rate = Number of unemployed persons including discouraged workers / New Labor force X 100 = 13,846,000 / 154,433,000 X 100 = 8.97%

7. understate

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