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If the total population (age 16 and over) is 48 million; of this total, 4 million...

  1. If the total population (age 16 and over) is 48 million; of this total, 4 million are unemployed and 36 million currently hold jobs. What is the rate of unemployment? __________________________ the labor force participation rate? __________________________
  2. How would the BLS classify each of the following people?

a) an administrator who has been working as a teacher one day per week while looking for a full-time job _______________________________

b) a mathematician who returned to graduate school after failing to find a job during the last four months _______________________________

  1. a former steel worker who would like to work but has given up actively searching for employment
  1. a former auto worker who is currently looking for work in the computer industry _______________________________

8. What is the impact on the labor force participation rate when women move from working in the home to working outside the home? ____________________________________________________________________

  1. What is the natural rate of unemployment? ___________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

  1. What is cyclical unemployment? ___________________________________________________________

__________________________________________________________________________________________

__________________________________________________________________________________________

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