Define the labor force and labor force participation rate

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Reference no: EM132375904

Instructions: Answer the following questions after each question (you do not need to write an essay).

Your Name:

Navigate to the BLS glossary located in the Students tab> Student Resources > Glossary

1. Define the labor force and labor force participation ratein the United States:

2. Define unemployed persons and the unemployment rate in the United States:

3. Define Nonfarm business sector and the percentage of the GDP the nonfarm sector accounts for:

Navigate to Economic Releases > Major Economic Indicators > Employment Situation> Employment Situation Summary. The Employment Situation Summary makes reference to several tables available on the Employment Situation link.You will need to refer to both the summary and the appropriate table to answer the questions. Please note tables are showing numbers in thousands. Thus, if the table shows a value of 100, the actual number is 100,000. Also, use seasonally adjusted values.

4. What is the labor force participation rate and the approximate number of people in the civilian labor force for August 2019?

5. What is the unemployment rate and the approximate number of people who are unemployed for August 2019?

6. What is the total number of people employed in nonfarm jobs for August 2019?

7. What is the change in total number of people employed in nonfarm jobs from July 2019-August 2019?

8. Total nonfarm is comprised of Total Private + Government. What percentage of the Total nonfarm is comprised of Government jobs?

9. Total Private is comprised of Goods-producing + Construction + Manufacturing + Nondurable goods. Which of these had the highest positive change from July 2019-August 2020 and which had the lowest?

10. Put Question 9 in the context of the documentary we have been watching "American Factory".

Reference no: EM132375904

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