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The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate
Question

The Bureau of Labor Statistics of Spain reported the following data for 2005:

Employed Workers: 145.1 million Unemployed Workers: 8.9 million

Not in labor force: 98.5 million

Calculate the

i. Labor force. ii. Labor force participation rate

Unemployment rate

iv. Adult population

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Step-by-step

i. The labor force can be calculated as the sum of employed workers and unemployed workers:

Labor force = Employed workers + Unemployed workers = 145.1 million + 8.9 million = 154 million Therefore, the labor force in 2005 was 154 million.

ii. The labor force participation rate is the percentage of the adult population that is in the labor force. It can be calculated as: The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate

Labor force participation rate = (Labor force / Adult population) x 100 Adult population = Employed workers + Unemployed workers + Not in labor force = 145.1 million + 8.9 million + 98.5 million = 252.5 million Labor force participation rate = (154 million / 252.5 million) x 100 = 61.0% Therefore, the labor force participation rate in 2005 was 61.0%.

iii. The unemployment rate is the percentage of the labor force that is unemployed. It can be calculated as:

Unemployment rate = (Unemployed workers / Labor force) x 100 Unemployment rate = (8.9 million / 154 million) x 100 = 5.8% Therefore, the unemployment rate in 2005 was 5.8%.
iv. The adult population is the sum of employed workers, unemployed workers, and those not in the labor force. In this case, the adult population is: The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate

Adult population = Employed workers + Unemployed workers + Not in labor force = 145.1 million + 8.9 million + 98.5 million = 252.5 million Therefore, the adult population in 2005 was 252.5 million.
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Final answer
In 2005, according to the Bureau of Labor Statistics of Spain, there were 145.1 million employed workers and 8.9 million unemployed workers. The number of individuals not in the labor force was 98.5 million.

The labor force, which is the sum of employed and unemployed workers, was 154 million. The labor force participation rate, which is the percentage of the adult population in the labor force, was 61.0%. The unemployment rate, which is the percentage of the labor force that is unemployed, was 5.8%. Finally, the adult population, which is the sum of employed workers, unemployed workers, and those not in the labor force, was 252.5 million. The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate

Expert Answer

The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate

Question

The Bureau of Labor Statistics of Spain reported the following data for 2005:

Employed Workers: 145.1 million Unemployed Workers: 8.9 million

Not in labor force: 98.5 million

Calculate the

i. Labor force. ii. Labor force participation rate

Unemployment rate

iv. Adult population

ORDER YOUR PAPER NOW

Step-by-step

i. The labor force can be calculated as the sum of employed workers and unemployed workers:

Labor force = Employed workers + Unemployed workers = 145.1 million + 8.9 million = 154 million Therefore, the labor force in 2005 was 154 million.

ii. The labor force participation rate is the percentage of the adult population that is in the labor force. It can be calculated as: The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate

Labor force participation rate = (Labor force / Adult population) x 100 Adult population = Employed workers + Unemployed workers + Not in labor force = 145.1 million + 8.9 million + 98.5 million = 252.5 million Labor force participation rate = (154 million / 252.5 million) x 100 = 61.0% Therefore, the labor force participation rate in 2005 was 61.0%.

iii. The unemployment rate is the percentage of the labor force that is unemployed. It can be calculated as:

Unemployment rate = (Unemployed workers / Labor force) x 100 Unemployment rate = (8.9 million / 154 million) x 100 = 5.8% Therefore, the unemployment rate in 2005 was 5.8%.

iv. The adult population is the sum of employed workers, unemployed workers, and those not in the labor force. In this case, the adult population is: The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate

Adult population = Employed workers + Unemployed workers + Not in labor force = 145.1 million + 8.9 million + 98.5 million = 252.5 million Therefore, the adult population in 2005 was 252.5 million.

ORDER YOUR PAPER NOW

Final answer

In 2005, according to the Bureau of Labor Statistics of Spain, there were 145.1 million employed workers and 8.9 million unemployed workers. The number of individuals not in the labor force was 98.5 million.

The labor force, which is the sum of employed and unemployed workers, was 154 million. The labor force participation rate, which is the percentage of the adult population in the labor force, was 61.0%. The unemployment rate, which is the percentage of the labor force that is unemployed, was 5.8%. Finally, the adult population, which is the sum of employed workers, unemployed workers, and those not in the labor force, was 252.5 million. The Bureau of Labor Statistics of Spain Report About Labor Force Participation Rate

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