Which point(s) can be used to explain unemployment? (Use Graph) 200 180- 160 140+ 120 100 80 60 40+ 20 sweaters 20 40 60 80 100 120 140 160 180 apples
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- For the following data calculate the unemployment rate (round your answer) Population 9 millio Employed. 5 million Unemployed. 1 million 25% 12% 17% 4%Question 4 (a) Assume that you are an economic advisor to our Prime Minister. The prime ministers ask you to design a program to reduce the amount of unemployment in Malaysia. What major elements would you include in your plan? Justify your answer, (b) Study the given table and answer the following questions. Year Labor force Employment (thousand) 6350 6850 7042 (thousand) 5790 2017 2018 6290 2019 6686 2020 7241 6926 2021 7441 7148 (a) Calculate the unemployment rate for years 2017 to 2021. (b) What is the percentage of growth in the number of labor force between the year 2017 and 2021?1. Using the following data calculate: 987,156 Currently Working 23,000 volunteer workers 9845 (ages 13-14) looking for work 12,000 (ages 15) looking for work 45,600 Part-Time workers 56 family workers who worked 15 hours a week 234 Self-Employed 6543 discouraged workers 67,432 (ages 23-25) looking for work 67,890 laid off receptionists looking for work 544,321 (ages 16-20) looking for work Current population is 6,000,000 5654 Temp Workers 5000 armed forces 543 recent university graduates that are going back to graduate school 3500 institutionalized (i) The number of persons employed. (ii) The number of persons unemployed. (iii) The labour force. (iv) The Labour Force Participation rate. (v) The “official” unemployment rate.
- economics comment on this unemployment graphSee the labor market graph below. If there is a sticky wage of $12, what is the unemployment rate? 20 16 12 A Labor Market 160 160 0% 8.57% 9.38% 10% 15% 16% 175 Although the graph does not present complete labels, standard labor market labels apply. Note: graph is not to scale. (millions)The table shows employment statistics for a fictional country. Use the information to answer the questions. Round your percentages to two decimal places. Category Number of people Employed 5805 Unemployed 482 Not in the labor force 591 What is the total labor force? What is the labor force participation rate? %% What is the unemployment rate? %% Suppose 266266 of the 482482 unemployed people have been unemployed for so long that they stop looking for work. What is the new labor force? What is the new labor force participation rate? %% What is the new unemployment rate? %
- Create a table with the National Unemployment rates from February 2020 through October 2020. Year Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec 2020 3.5 3.5 4.4 14.7 13.2 11.0 10.2 8.4 7.9 6.9 6.7 6.7 What trend(s) do you observe? Next, review the employment situation summaries from March 2020 and October 2020.1 Describe the decrease in employment from 2020-2022.List and explain 4 types of unemployment and provide an example. (need to be clear and effective)
- Analyze the unemployment rate between country A and b Country A data Year Unemployment Rate (%) Annual Change 2021 8.50% 2.37% 2020 6.13% -0.23% 2019 6.36% 0.50% 2018 5.86% 0.03% 2017 5.83% -1.45% 2016 7.28% -0.33% 2015 7.61% 0.89% 2014 6.72% -0.63% 2013 7.35% 0.63% 2012 6.72% 0.63% 2011 6.09% 0.88% 2010 5.21% -0.26% 2009 5.47% 0.71% 2008 4.76% -0.40% 2007 5.16% -0.49% 2006 5.65% -0.94% 2005 6.59% 0.29% 2004 6.30% -0.64% 2003 6.94% 0.16% 2002 6.78% -0.48% 2001 7.26% 0.83% 2000 6.43% 0.04% Country B data Year Unemployment Rate (%) Annual Change 2021 10.41% 0.04% 2020 10.38% 1.97% 2019 8.41% 0.09% 2018 8.32% -0.30% 2017 8.62% 0.37% 2016 8.25% -1.55% 2015 9.80% -2.37% 2014 12.17% 0.62% 2013 11.55% -0.04% 2012 11.59% 0.40% 2011 11.19% 0.50% 2010 10.69% 0.67% 2009 10.02% 1.90% 2008 8.12% 0.71% 2007 7.41% -1.32% 2006 8.73% -0.35% 2005 9.08% -0.49% 2004 9.57% -1.43% 2003 11.00% 0.68% 2002 10.32%…4G1 11:23 BO Bully Just now Suppose some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, number of employed 14.1 million people. What is the unemployment rate?Assuming a perfectly competitive labor market, what should an increase in the minimum wage do to the quantity of labor demanded? What should it do to the unemployment rate? Explain why and include a graph/s.