A Labor Force Survey in Brownland Records the Following Data

Essay

A labor force survey in Brownland records the following data for December 2007: Employed: 189,000
Unemployed: 15,000
Not in the labor force: 84,000 During 2008, the survey recorded:
Hires and recalls: 5,000
Job losers and job leavers: 7,500 Entrants and reentrants: 21,000 Withdrawals: 18,000
The working age population increased during 2008 by 5 percent.
a) Calculate for December 2007 the unemployment rate.
b) Calculate for December 2007 the labor force participation rate.
c) Calculate for December 2008 the unemployment rate.
d) Calculate for December 2008 the labor force participation rate.