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**Person Status**

1. **Manuel:** A 41-year-old autoworker laid off 6 months ago. He is frustrated with his inability to find a full-time position. Last week, he took a part-time job but was given only 3 hours of work.

2. **Poornima:** A 23-year-old recent college graduate. She did not work for pay last week but had two job interviews.

3. **Shen:** A 29-year-old retired professor who enjoys volunteering at the local public library.

4. **Caroline:** A 29-year-old who lost her job as an associate producer for a radio station. After spending a few weeks out of work and interviewing for several positions, she gave up her job search and decided to go back to grad school a few months ago.

5. **Antonio:** A famous novelist spending the summer at his lake house in upstate New York, doing a little writing each day but mostly gardening and reading.

6. **Valerie:** An 11-year-old student at West Valley Middle School. She babysits her younger sister and does other chores for which her parents give her an allowance of $20 per week.

**Tasks:**

1. **Complete the equation** to reflect the labor force participation rate reported by the BLS:

Labor Force Participation Rate = _______

According to this formula, what is the labor force participation rate of this economy of six people?
- a. 33.33%
- b. 40%
- c. 50%
- d. 60%

2. **Complete the equation** to reflect the unemployment rate reported by the BLS:

Unemployment Rate = _______

According to this formula, what is the unemployment rate of this economy of six people?
- a. 33.33%
- b. 50%
- c. 40%
- d. 60%

Answer :

Answer:

a. Manuel is Employed.

Manuel has a part time job and this is considered employment.

b. Poornima is Unemployed.

Poornima is not employed but is looking for work which is why she had two job interviews. This classifies her as unemployed.

c. Shen is Not in the Labor Force.

Shen is retired so is not in the labor force.

d. Caroline is Not in the Labor Force

Caroline gave up on looking for work so is not in the labor force as well as you have to be either employed or searching for work to be in the labor force.

e. Antonio is Employed.

Antonio is employed as a novelist and he is still active as he writes every day.

e. Valarie is Not in the Adult/ Working age population

Valaries is too young to be in the workforce.

2. Labor Force Participation Rate = Number in labor force / Working age population * 100%

= 3/ 5 * 100%

= 60%

3. Unemployment rate = Number of unemployed people / Number in labor force * 100%

= 1 / 3 * 100%

= 33.33%

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