Question
In: Economics
Question 6: Fill in the blank entries in the table. All values are in millions....
Question 6:
Fill in the blank entries in the table. All values are in millions.
|
Country |
Adult Population |
Labour Force |
Employed |
Unemployed |
Unemployment Rate |
Labour-Force Participation Rate |
|
Japan |
108.12 |
63.79 |
3.20 |
|||
|
France |
25.98 |
2.45 |
56.4 percent |
|||
|
Germany |
69.17 |
39.75 |
8.08 percent |
Please show all work (including mathematical formulas).
Solutions
Expert Solution
Country: Japan
Given
Adult Population=N=108.12 millions
Employed=E=63.79 millions
Unemployed=U=3.20 millions
Labor Force=LF=E+U=63.79+3.20=66.99 millions
Unemployment rate=U/LF=3.20/66.99=4.78%
Labor force participation rate=LFPR=LF/N=66.99/108.12=61.96%
Country: France
Given
Labor Force=LF=25.98 millions
Unemployed=U=2.45 millions
Labor force participation rate=LFPR=56.40%
Adult Population=N=LF/LFPR=25.98/56.40%=46.06 millions
Employed=E=LF-U=25.98-2.45=23.53 millions
Unemployment rate=U/LF=2.45/25.98=9.43%
Country: Germany
Given
Adult Population=N=69.17 millions
Labor Force=LF=39.75 millions
Unemployment rate=u=8.08%
Unemployed=U=u*LF=8.08%*39.75=3.2118 million or say 3.21 million
Employed=E=LF-U=39.75-3.2118=36.5382 million or say 36.54 million
Labor force participation rate=LFPR=LF/N=39.75/69.17=57.47%
| Country | Adult Population | Labor Force | Employed | Unemployed | Unemployment Rate | Labor Force Participation Rate |
| Japan | 108.12 | 66.99 | 63.79 | 3.2 | 4.78% | 61.96% |
| France | 46.06 | 25.98 | 23.53 | 2.45 | 9.43% | 56.40% |
| Germany | 69.17 | 39.75 | 36.54 | 3.21 | 8.08% | 57.47% |
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