Question

216 Chapter 8 un 47. As the baby boomer generation retires, w happen to wages and employment? Can you graphically? PROBLEMS 45. A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest of the adult population is out of the labor force. What's the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups. 46. A government passes a family-friendly law that no companies can have evening, nighttime, or weekend hat unione can he home with their families

Answer 1

1 Population: = 80, ogooo adults Employed = 50, vo, voo Unemployed 500,000 Labor force - Employed & Unemployed. So, oo, voot 5,oo, ooo = 55, oo, ooo Unemployment Unemployed xloo rate Labor force 5,00, ooo X100 55,00, voo 9.09.1. Share of population in labor force. Share = 55,00, ovo loo oo, oo, ovo Share 68.75 7. - х Unemployed share - sooooo xlvo = 6.25 7. 8ovovoo Employed Share & Soooooo x 100 = 62.5%. 8o00ood Not in laba porcea 100 (68.15) 31.254. Employed 62.54 Not in laba pore imployed 31-15 (6.25