Question

DFW Texas Texas excl. DFW Total labour force (in mil) 12.868 Total employment (in mil) 3.215 Total unemployment (in mil) 0.219 Unemployment rate 0.0675 The above are values from the BLS for July 2013, Texas, the Dallas-Fort Worth area, and Texas excluding the Dallas-Fort Worth area. Use your understanding of the relationships between these figures to calculate values for a-h. Note: 0.0675=6.75%

The above are values from the BLS for July 2013, Texas, the Dallas-Fort Worth area, and Texas excluding the Dallas-Fort Worth area. Use your understanding of the relationships between these figures to calculate values for a-h. Note: 0.0675=6.75%

Answer 1

D:

Total Labor force = Employment + Unemployment

                              = 3.215 + 0.219

                              = 3.434 (Answer)

Unemployment rate = unemployment / Total labor force

                                    = 0.219 / 3.434

                                    = 0.0637 (Answer)

T:

Unemployment rate = D + T excl. D

                                    = 0.0637 + 0.0675

                                    = 0.1312 (Answer)

Total unemployment = Total Labor force × Unemployment rate

                                    = 12.868 × 0.1312

                                    = 1.688 (Answer)

Total employment = Total Labor force – Total unemployment

                              = 12.868 – 1.688

                              = 11.18 (Answer)

T excl. D:

Total labor force = T – D

                            = 12.868 – 3.434

                            = 9.434 (Answer)

Total employment = T – D

                               = 11.18 – 3.215

                               = 7.965 (Answer)

Total unemployment = T – D

                                    = 1.688 – 0.219

                                    = 1.469 (Answer)