People unemployed both increase while the adult

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of people unemployed both increase, while the adult population are unchanged. Therefore, the unemployment rate increases , and the labor-force participation rate increases . If Gilberto becomes an adult and starts looking for a job, this increases the labor force, the number of people unemployed, and the adult population. Therefore, the unemployment rate increases , and the labor-force participation rate increases . If Lorenzo dies in an accident at work, this decreases the labor force, the number of people employed, and the adult population and keeps the number of people unemployed unchanged. Therefore, the unemployment rate increases , and the labor-force participation rate decreases . See Section: How Is Unemployment Measured?
3. Problems and Applications Q3 The following table shows the annual average data on the employment status of the U.S. civilian noninstitutional population by age in 2018. Age Employed Unemployed Not in Labor Force (Thousands of People) (Thousands of People) (Thousands of People) 16 to 19 years 5,126 759 10,879 20 to 24 years 14,051 1,048 6,140 25 to 54 years 100,314 3,391 22,685 55 to 64 years 26,565 789 14,760 65 years and over 9,705 327 41,251 Total 155,761 6,314 95,716 Source : “Labor Force Statistics from the Current Population Survey.” Bureau of Labor Statistics . What is the national unemployment rate? Points: 1 / 1 Close Explanation
Force = mber of Unemployed The BLS defines the unemployment rate as the percentage of the labor force that is unemployed: Unemployment Rate U nemployment Rate = = UnemployedLabor Force ×100 UnemployedLabor Force×100 = = UnemployedNumber of Employed+Number of Unemployed ×100 UnemployedNumbe r of Employed+Number of Unemployed×100 Therefore, you can calculate the national unemployment rate in 2018 as follows: National Unemployment Rate in 2018 National Unemployment Rate in 2018 = = 6,314,000155,761,000+6,314,000 ×100 6,314,00015 5,761,000+6,314,000×100 = = 3.9% 3.9% See Section: How Is Unemployment Measured? Complete the following table by computing the unemployment rate for each age group. Age Unemployment Rate 16 to 19 years 12.9% 20 to 24 years 6.9% 25 to 54 years 3.3% 55 to 64 years 2.9% 65 years and over 3.3% Points: 1 / 1 Which of the following groups has an unemployment rate higher than the national average unemployment rate? Check all that apply.
65 years and over Points: 0 / 1 Close Explanation
Similar calculations will generate the following results: Age Unemployment Rate 16 to 19 years 12.9% 20 to 24 years 6.9% 25 to 54 years 3.3% 55 to 64 years 2.9% 65 years and over 3.3% Because the national average unemployment rate is 3.9%, the two youngest age groups (16 to 19 years and 20 to 24 years) have unemployment rates higher than the national average. See Section: How Is Unemployment Measured?

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