In: Economics
The table below uses
data for the year 2014, adjusted to be comparable to each other.
All population values are in thousands.
| Country |
Adult population |
Labour force |
Employed | Unemployed |
Unemployment rate (%) |
Labour-force participation rate (%) |
| Japan | 77,550 | 62,886 | 2,416 | |||
| France | 30,052 | 2,975 | 56.0 | |||
| Germany | 53,387 | 42,165 | 5.0 |
Instructions: Round your answers to one decimal
place.
a. Fill in the blanks in the table above.
b. In part a, you should have found that the unemployment rates of the three countries differ significantly from one another. Select the possible reasons to explain why the countries might have different unemployment rates.
Germany could be in a recession and have higher cyclical
unemployment, or .Germany could have more powerful unions. or
Germany could have higher (and binding) minimum wages. or Japan
could have a more liberalized labour market leading to lower
frictional unemployment. or Germany and France could have more
generous employment benefits. or All of the choices are
correct.