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ECN 001B C01-C06 WQ 2025 Homework 3 - Unemployment

Single choice

In a particular month BLS asks 60,000 randomly selected sample of Americans a few questions to determine the state of the labor market. The following table shows the result: Number of people who had a job 52,800 Number of people who did not have a job 7,200 Of the number of people who did not have a job, those who were looking for one in the last four months 5,222 The BLS classifies [marginal] people in the sample as marginally attached to labor force.

Options
A.1978.00
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Step-by-Step Analysis
We start by restating the data given in the question so we can reason through what is being asked. - Employed: 52,800 - Unemployed: 7,200 - Total sample: 60,000 - Of those who did not have a job, those who were looking for one in the last four months: 5,222 Next, we classify the groups relevant to marginal attachment to the labor force. - The number not in the labor force equals total minus those who are employed or unemployed: 60,000 − (52,800 + 7,200) = 0. So in this case, everyone is either employed or unemployed; there is no separate not-in-labor-force group remaining from those figures. How......Login to view full explanation

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