00:01
So here we need to calculate some labor force statistics, and we are given some information.
00:05
So let's start going through this.
00:08
First one, a, right, the labor force.
00:11
So the labor force is equal to the employed plus the unemployed, right? that's just the definition of the labor force.
00:22
So here we are looking for the employed.
00:25
The employed are the 4 .6 working part -time plus the 15 .71 working full -time.
00:34
And the unemployed are going to be among those not working.
00:41
Now, you see we're going to need unemployment for this.
00:45
And my idea here is that the number of unemployed is equal to looked in last four weeks.
00:54
This is the standard bls definition of unemployment.
00:58
So this would be the 3 .20 who looked within the last two weeks and then the 1 .72 who looked between two and four weeks ago...