Suppose the civilian non-institutionalized working age population is 35.9 million in Laborland.

4.9 million are working part-time, and 14.53 million are working full-time.

Laborland used the Bureau of Labor Statistics (BLS) definitions for unemployment data. Among those not working, the most recent job search activity for 2.90 million happened less than two weeks ago, while 1.72 million most recently looked for work between two and four weeks ago. An additional 0.86 million most recently looked for work five weeks ago, and the remaining 10.99 million who don't have jobs have not looked for work in the past six weeks.

a. What is Laborland's total labor force?
b. What is Laborland's labor force participation rate (%)?
c. How many people are unemployed in Laborland?
d. What is Laborland's unemployment participation rate (%)?

a. 24.05 million

b. 66.99%

c. 4.62 million

d. 19.21%

Explanation:

a. Total Labor force is the sum total of people who are employed and those who are actively looking for work. The Bureau of Labor Statistics defines actively looking for work as looking for work int he past 4 weeks.

= Part-time workers + full time workers + those who looked for work in the past 2 weeks + those who looked for work in the past 2 - 4 weeks

= 4.9 million + 14.53 million + 2.90 million + 1.72 million

= 24.05 million

b. labor force participation rate is the percentage of a country's non-institutionalized working age population that are actively looking for work. Its formula = X 100

Laborland's labor force participation rate (%) = X 100

= 66.99%

c. Unemployed  People by the standards of the Bureau of Labor Statistics are the people who have looked for work in the past 4 weeks and are still employed. That is  those who looked for work in the past 2 weeks + those who looked for work in the past 2 - 4 weeks.

= 2.90 million + 1.72 million

= 4.62 million

d. Unemployment rate is the percentage of the labor force that are actively looking for work and are still out of work.

Unemployment rate = x 100

= x 100

=19.21%

answer; /// that is so (false);