Soru
The BLS reported the following data for January 2017: Labor force: 160 million Employment: 152 million Working-age population.254 million Calculate the a. Unemployment rate. b. Labor force participation rate. c. Employment-to-population ratio.
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a. The unemployment rate is calculated as the number of unemployed individuals divided by the labor force, multiplied by 100 to express it as a percentage. In this case, the number of unemployed individuals is the difference between the labor force and employment, which is 160 million - 152 million = 8 million. Therefore, the unemployment rate is (8 million / 160 million) * 100 = 5%.b. The labor force participation rate is calculated as the labor force divided by the working-age population, multiplied by 100 to express it as a percentage. In this case, the labor force is 160 million, and the working-age population is 254 million. Therefore, the labor force participation rate is (160 million / 254 million) * 100 = 62.99%.c. The employment-to-population ratio is calculated as the number of employed individuals divided by the working-age population, multiplied by 100 to express it as a percentage. In this case, the number of employed individuals is 152 million, and the working-age population is 254 million. Therefore, the employment-to-population ratio is (152 million / 254 million) * 100 = 59.84%.