Ch 3fa10_updated

Ch 3fa10_updated - Chapter 3 Employment Issues Unemployment...

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Chapter 3 Employment Issues
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Unemployment Population Working-age Population Young; Institutionalized Labor-force Not in Labor-force Employed Unemployed
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All non-institutionalized people over the age of 16 who are either working for pay or are actively seeking paid employment Explain how the labor force participation rate is calculated and what it means. Identify factors that affect how individuals choose their level of labor market participation.
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Explain how the labor force participation rate is calculated.
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Calculating the Labor Force Participation Rate Assume you are analyzing the labor market of a large-sized metropolitan area. The area has a total population of 4,230,000; 2,500,000 are civilian individuals who are not institutionalized and over the age of 16. Of those, 150,000 are not currently employed, but are looking for work and 900,000 are currently working for pay. 5,000 individuals were looking for work last year, but have since given up searching. Additionally, 10,000 individuals who are not currently working or looking for work, might be interested in working if wages rise enough. Calculate the following: What is the labor force participation rate in the metropolitan area described above?
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Calculating the Labor Force Participation Rate Assume you are analyzing the labor market of a large-sized metropolitan area. The area has a total population of 5,457,000; 4,500,000 are civilian individuals who are not institutionalized and over the age of 16. Of those, 300,000 are not currently employed, but are looking for work and 3,765,000 are currently working for pay. 9,000 individuals were looking for work last year, but have since given up
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This note was uploaded on 04/18/2011 for the course WCOB 2033 taught by Professor A during the Spring '07 term at Arkansas.

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Ch 3fa10_updated - Chapter 3 Employment Issues Unemployment...

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