Using the following data compute a the unemployment rate b...

Using the following data, compute a) the unemployment rate, b) the employment rate, c) the labor force participation rate. civilian non-institutional population = 200 million number of employed persons = 126 million number of unemployed person = 8 million

Transcript

00:01 Hello students, we are given a question here that compute.

00:03 We need to compute the unemployment rate, employment rate and the labor force participation rate.

00:09 Now we are given some data here.

00:11 The civilian non -institutional population is given as 200 million.

00:16 Number of employed persons are 26 million and number of unemployed person are 8 million.

00:23 Now we will start with first part unemployment rate.

00:27 Okay so we can write here right here that the unemployment rate is equal to here we can just write the number of unemployed person number of unemployed students then divided by here we can just write divided by labor force okay students labor force times hundred so basically number of unemployed unemployed persons are here we are given 8 million so 8 divided by labor force are the summation of employed plus unemployed it means 126 plus 8 and times hundred so basically it should be 800 divided by 134 this student it should be 5 .97 percentage.

01:29 Now we will go to the second part the employment rate.

01:33 Okay students we can just write here that the employment okay students employment rate so it should be equal to the number of employed number of employed and divided by working age population working age population or can we see it as said as labor force obviously times 100 so what we will get number of employed persons are as we are given 126 million divided by divided by working age population obviously 134 because of 126 plus 8 times 100 so basically what we will get here 126 divided by 134 times 100 so we will get it as 94 percentage...

Question

Using the following data, compute a) the unemployment rate, b) the employment rate, c) the labor force participation rate. civilian non-institutional population = 200 million number of employed persons = 126 million number of unemployed person = 8 million

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