question archive Compute various indicators of the state of the labour market using the following information
Compute various indicators of the state of the labour market using the following information
Subject:EconomicsPrice:2.88 Bought3
Compute various indicators of the state of the labour market using the following information. Show all your work.
| Demographic Group | Number of Residents |
|---|---|
| Full-time workers | 7,000 |
| Part-time workers | 2,000 |
| Unemployed and looking for work | 600 |
| Unemployed and not looking for work due to discouragement over job prospects | 500 |
| Not working due to disability | 300 |
| Not working due to retirement | 900 |
| Under the age of 15 | 3,000 |
| Total Population | 14,300 |
Suppose that the natural rate of unemployment is considered to be 5%. What is the rate of cyclical unemployment? Report as a percentage to two decimal places.
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