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Calculating Unemployment Practice
Complete the following calculations. Some of the answers to the questions in this activity are expressed as a decimal. If there's a decimal, you should round the answer to two decimal places (Example: 6.25).
- Calculate the labor force using the following numbers.
- Civilian non-institutional population age 16 and over: 100
- Total number of employed persons: 60
- Total number of unemployed persons: 4
Answer: Labor Force = 64%
Explanation: Number of employed and unemployed people, so in this case, 60+4 = 64
- Calculate the unemployment rate using the following numbers.
- Civilian non-institutional population age 16 and over: 100
- Total number of employed persons: 60
- Total number of unemployed persons: 4
Answer: Unemployment rate = 6.25%
Explanation: The unemployment rate is equal to the number of unemployed people divided by the labor force, so in this case, (4/64)−100% = 6.25%
- Calculate the labor force participation rate using the following numbers.
- Civilian non-institutional population age 16 and over: 100
- Total number of employed persons: 60
- Total number of unemployed persons: 4
Answer: Labor force participation rate = 64%
Explanation: The labor force participation rate is equal to the labor force (employed and unemployed) divided by the number of people who could hold a job, so in this case, [(60+4)/100] − 100% = (64/100) − 100% = 64%
- Calculate the labor force using the following numbers.
- Civilian non-institutional population age 16 and over: 130
- Total number of employed persons: 80
- Total number of unemployed persons: 7
Answer: Labor force = 87%
Explanation: The labor force is equal to the number of employed and unemployed people, so in this case, 80+7 = 87
- Calculate the unemployment rate using the following numbers.
- Civilian non-institutional population age 16 and over: 130
- Total number of employed persons: 80
- Total number of unemployed persons: 7
Answer: unemployment rate = 8.04%
Explanation: The unemployment rate is equal to the number of unemployed people divided by the labor force, so in this case, (7/87)x100% = 8.04%
- Calculate the labor force participation rate using the following numbers.
- Civilian non-institutional population age 16 and over: 130
- Total number of employed persons: 80
- Total number of unemployed persons: 7
Answer: labor force participation rate = 66.92%
Explanation: The labor force participation rate is equal to the labor force (employed and unemployed) divided by the number of people who could hold a job, so in this case, [(80+7)/130] x 100% = (87/130)x100% = 66.92%
- Calculate the labor force using the following numbers.
- Civilian non-institutional population age 16 and over: 150
- Total number of employed persons: 90
- Total number of unemployed persons: 6
Answer: labor force= 96
Explanation: The labor force is equal to the number of employed and unemployed people, so in this case, 90+6 = 96.
- Calculate the unemployment rate using the following numbers.
- Civilian non-institutional population age 16 and over: 150
- Total number of employed persons: 90
- Total number of unemployed persons: 6
Answer: unemployment rate = 6.25%
Explanation: The unemployment rate is equal to the number of unemployed people divided by the labor force, so in this case, (6/96)x100% = 6.25%
- Calculate the labor force participation rate using the following numbers.
- Civilian non-institutional population age 16 and over: 150
- Total number of employed persons: 90
- Total number of unemployed persons: 6
Answer: labor force participation rate = 64%
Explanation: The labor force participation rate is equal to the labor force (employed and unemployed) divided by the number of people who could hold a job, so in this case, [(90+6)/150] x 100% = (96/150)x100% = 64%
- Calculate the labor force using the following numbers.
- Civilian non-institutional population age 16 and over: 200
- Total number of employed persons: 150
- Total number of unemployed persons: 12
Answer: labor force = 162
Explanation: The labor force is equal to the number of employed and unemployed people, so in this case, 150+12 = 162.
- Calculate the unemployment rate using the following numbers.
- Civilian non-institutional population age 16 and over: 200
- Total number of employed persons: 150
- Total number of unemployed persons: 12
Answer: unemployment rate = 7.41%
Explanation: The unemployment rate is equal to the number of unemployed people divided by the labor force, so in this case, (12/162)x100% =7.41%
- Calculate the labor force participation rate using the following numbers.
- Civilian non-institutional population age 16 and over: 200
- Total number of employed persons: 150
- Total number of unemployed persons: 12
Answer: labor force participation rate = 81%
Explanation: The labor force participation rate is equal to the labor force (employed and unemployed) divided by the number of people who could hold a job, so in this case, [(150+12)/200] x 100% = (162/200)x100% = 81%
- Calculate the labor force using the following numbers.
- Civilian non-institutional population age 16 and over: 250
- Total number of employed persons: 180
- Total number of unemployed persons: 10
Answer: labor force = 190
Explanation: The labor force is equal to the number of employed and unemployed people, so in this case, 180+10 = 190.
- Calculate the unemployment rate using the following numbers.
- Civilian non-institutional population age 16 and over: 250
- Total number of employed persons: 180
- Total number of unemployed persons: 10
Answer: unemployment rate = 5.26%
Explanation: The unemployment rate is equal to the number of unemployed people divided by the labor force, so in this case, (10/190)x100% = 5.26%
- Calculate the labor force participation rate using the following numbers.
- Civilian non-institutional population age 16 and over: 250
- Total number of employed persons: 180
- Total number of unemployed persons: 10
Answer: labor force participation rate = 76%
Explanation: The labor force participation rate is equal to the labor force (employed and unemployed) divided by the number of people who could hold a job, so in this case, [(180+10)/250] x 100% = (190/250)x100% = 76%
You've completed this review activity!