MGEA06H3 Study Guide - Final Guide: Employment-To-Population Ratio
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Use the following information about Employment Country to answer the following questions. Numbers are in millions.
2013 | 2014 | |
Population | 223.6 | 226.5 |
Adult population | 168.2 | 169.5 |
Number of unemploymed | 7.4 | 8.1 |
Number of employmed | 105.2 | 104.2 |
What is the labour force in 2013 and 2014?
What is the growth rate of labour force between 2013 and 2014?
What is the unemployment rate in 2013 and 2014?
From 2013 to 2014, the adult population went up while the labour force went down. Provide a number of explanations why this might have occurred.
If the natural rate of unemployment (equilibrium unemployment) in Employment Country is 6.6 percent, what is the maximum that cyclical unemployment could be in 2013 and 2014? Is Employment Country likely to be experiencing a recession in either of these years? (Hint: compare the equilibrium unemployment with the levels of unemployment you found in question 3. for 2013 and 2014)