This preview has intentionally blurred sections. Sign up to view the full version.View Full Document
Unformatted text preview: plus the unemployed (actively looking for work, or on temporary layoff). b. Unemployed November 2009 = 15375 (in thousands), or 15,375,000 c. Unemployment rate = 10% The employment rate plus the unemployment rate will not add to 1 because, in addition to the employed and unemployed, there are individuals who are out of the labor force, and so are not counted in either rate. A further complication here is that the problem mistakenly said that the employment rate ’s denominator is the labor force. The proper denominator is actually the population. So adding the employment rate and the unemployment rate will typically mean adding two rates with different denominators, and they will not sum to 1....
View Full Document
This note was uploaded on 02/14/2011 for the course ECON 151A taught by Professor Miller during the Spring '06 term at UC Davis.
- Spring '06