Question

Calculate the missing values in the table below by using the provided data collected in the household survey for December 2017. ​(Enter your responses as whole​ numbers.)

Category	Value
​Working-age population**	?
​Employed**	154 comma 021154,021
​Unemployed**	?
Unemployment rate	4.14.1​%
Labor​ force**	?
Labor force participation rate	62.762.7​%

​** Numbers in thousands

​*Real-time data provided by Federal Reserve Economic Data​ (FRED), Federal Reserve Bank of Saint Louis.

Answer 1

Unemployment rate= Unemployed/(Unemployed+Employed)*100=4.1%

4.1=100U/(154021+U)

U=6584.9=6585

Labour Force + (Unemployed+Employed)=154021+6585=160606

Labour Force Participation Rate=(U+E)/ Working Age Population=160606/P=62.7%

Working Age Population (P)=256150

Category	Value
​Working-age population**	256,150
​Employed**	154,021
​Unemployed**	6585
Unemployment rate	4.10%
Labor​ force**	160,606
Labor force participation rate	62.70%