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In: Economics

1. In December 2005, the BLS estimated there were 7.4 million unemployed, 142.8 million employed (including...

1. In December 2005, the BLS estimated there were 7.4 million unemployed, 142.8 million employed (including 2.8 million involuntary part-time workers), 451,000 discouraged workers and 4.8 million people (including discouraged workers) who were marginally attached to the labor force.

a. Calculate the headline (U-3) unemployment rate for December 2005.

b. Calculate the unemployment rate for December 2005 if it had included among the unemployed all officially discouraged workers.

c. Calculate the unemployment rate if it had included all those who were marginally attached to the labor force?

d. Calculate the unemployment rate if it had included all those who were marginally attached to the labor force plus involuntary part-time workers.

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Expert Solution

Rahul Sunny answered 2 years ago
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