The BLS survey found the numbers in the table for a small community. Calculate t
ID: 2576774 • Letter: T
Question
The BLS survey found the numbers in the table for a small community. Calculate the unemployment rate and the labor force participation rate for this community The unemployment rate is 19 percent. Number 120 50 Categon Total number of persons in the community Worked at least 1 hour as paid employees or worked 15 hours or more as unpaid workers in their family business Were not working but had jobs or businesses from which they were temporarily absent Had no employment and were not available for work Were available for work and had made specific efforts to find employment some time during the previous 4 weeks Were available for work and were waiting to be recalled to a job from which they had been laid off >>Answer to 1 decimal place. The labor force participation rate ispercent. >>>Answer to 1 decimal place. 30 15Explanation / Answer
Labor Force Participation Rate (LFPR) = Labor Force/ Civilian Non-Institutionalized Population
Labor Force includes both Employed and Unemployed.
Employed: People working at least 1 hour as paid employees or, 15 or more hours In family business or farm. Add people already working and are on temporary absence.
Unemployed: People available for work and have been actively looking for job during last 4 weeks. People available for work and waiting to be recalled to a job from which they were laid off are included.
People not available for work are not considered as unemployment, but will be considered in population.
Civilian Labor Force = People more than 16 or more in age less prisoners, mental patients, and persons on active duty in the Military Services.
Working LFPR = (Employed + Unemployed)/ Civilian Labor Population
= (80 + 20)/105 = 100/105 = 95.23%
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