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The table below contains some information about employment, labor force, and population levels in the United...

The table below contains some information about employment, labor force, and population levels in the United States at the turn of each decade.

a. Using the data, fill in the table.

b. Suppose the projection for the working-age population in the year 2020 for the United States is 265 million. If the unemployment rate and the labor force participation rate are the same in 2020 as they were in 2000, how much employment will there be?

c. Using the same projection of 265 million for the working-age population in 2020, calculate employment with an unemployment rate of 5 percent and a labor force participation rate of 60 percent.

d. Calculate the same for a labor force participation rate of 70 percent. Which of these estimates do you think is more realistic? Why?



Year

Total Employment
(millions)

Unemployment Rate
(percent)

Labor Force
Participation Rate
(percent)

Working-Age
Population
(millions)


1980

7.2

63.6

168.9


1990

6.3

66.4

190.0


2000

3.9

67.0

213.7

2010
138.4
64.8
236.8

Source: U.S. Department of Labor.

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