the initial distribution of the population aged 16 and older into three groups: people who are employed, those who are unemployed, and those not in the labor force. If the number of people employed were to expand by 9.2 million, and the number of people unemployed were to rise by 7.1 million, what would be the new values of the labor force and of the unemployment rate?
Without knowing the initial values of the population aged 16 and older, we cannot calculate the new values of the labor force and unemployment rate.
the initial are
employed =101.5
unemployed=7.4
not in labor force=100.2
Given the initial values of the population aged 16 and older are:
- Employed=101.5 million
- Unemployed=7.4 million
- Not in labor force=100.2 million
If the number of people employed were to expand by 9.2 million, the new number of employed people would be:
101.5 million + 9.2 million = 110.7 million
If the number of unemployed people were to rise by 7.1 million, the new number of unemployed people would be:
7.4 million + 7.1 million = 14.5 million
The new labor force would be the sum of the employed and unemployed, which is:
110.7 million + 14.5 million = 125.2 million
The new unemployment rate can be calculated as:
14.5 million / 125.2 million x 100% = 11.6%
Therefore, the new values of the labor force and the unemployment rate would be 125.2 million and 11.6%, respectively.
To find the new values of the labor force and the unemployment rate, we need to start with the initial distribution and consider the changes in the numbers of employed and unemployed people.
Let's assume the initial distribution is as follows:
- Employed: E
- Unemployed: U
- Not in the labor force: N
Based on the information given, we can write the initial equation:
E + U + N = Total Population (16 and older)
Now, given the changes:
- Number of people employed expands by 9.2 million. So the new number of employed people will be E + 9.2 million.
- Number of people unemployed rises by 7.1 million. So the new number of unemployed people will be U + 7.1 million.
The labor force is the sum of employed and unemployed individuals:
Labor force = E + U + 9.2 million + 7.1 million
= E + U + 16.3 million
To calculate the new unemployment rate, we need to divide the number of unemployed individuals by the labor force and multiply by 100 to get a percentage:
Unemployment rate = (U + 7.1 million) / (E + U + 16.3 million) * 100
Please provide the initial values of employed (E), unemployed (U), and not in the labor force (N), so we can calculate the new values based on the information given.