Name: Student ID: Section: EMPLOYMENT WORKSHEET 2 Below, you are provided with information regarding the number of people in various labor market categories. You will use these data to calculate the employment-to-population ratio, the labor force participation rate, the unemployment rate. The small country of Turtle Island is known for its strong labor market. The table below provides you with the number of people that are in the population and In the working-age population in Turtle Island. Additionally, the table tells you how many of these people are e her employed or unemployed. Number of People 160,000 120,000 4,500 85,500 Labor Market Category Population Working-age population Unemployed Employed Part 1: Calculate the employment-to-population ratio in Turtle Island. Give your answer as a percentage, and round your answer to the nearest one-one hundredth of one percent. Part 2: Calculate the labor force participation rate in Turtle Island. Give your answer as a percentage, and round your answer to the nearest one-one hundredth of one percent Part 3: Calculate the unemployment rate in Turtle Island. Give your answer as a percentage, and round your answer to the nearest one-one hundredth of one percent. Name: Student ID: Section: EMPLOYMENT WORKSHEET 6 Below, you are introduced to four different unemployed workers and provided with information about their personal unemployment situation. You will classify these workers as cyclically unemployed, frictionally unemployed, or structurally unemployed. Aziza: "I am a stand-up comedian. Well, I was a stand-up comedian. I lost my job during the last recession, and I still haven't found work. This isn't a joke. "I used to repair portable CD players, like the Sony Walkman. Do you remember the Sony Walkman? Well, anyways, I used to repair those. But there isn't much demand for that skillset anymore." "I am not working right now, but lull be back to work in November. I am a ski instructor...which is kind of hard to do when there is no snow." Casey: Rachel: "I just graduated from Ohio State with a double major and pretty serious resume. I'm applying for a bunch of jobs....and waiting to be called back. This is so frustrating." Carlos: Part 1: Aziza is actively looking for a job. Is Aziza cyclically, frictionally, or structurally unemployed? Part 2: Casey is actively looking for a job. Is Casey cyclically, frictionally, structurally unemployed? Or Part 3: Rachel is actively looking for a job. Is Rachel cyclically, frictionally, or structurally unemployed? Part 4: Carlos is actively looking for a job. Is Carlos cyclically, frictionally, or structurally unemployed? ?MPLOY??NT WORKSHEET 7 below, you will define the natural rate of unemployment. You will use this definition to determine whether different policies are of unemployment. Likely to raise or reduce the natural rate Part 1: Fill in the blanks below with the words cyclical, frictional, and structural. "The Natural Rate of Unemployment arises when all unemployment is either When unemployment is at the natural rate or of unemployment, there is no, unemployment." Part 2: Suppose that the government institutes a new job retraining program for workers that have been out of work for more than six months due to a lack of employable job skills. Would this program affect cyclically unemployed, frictionally unemployed, or structurally unemployed individuals? Part 3: Suppose that the government institutes a new job retraining program for workers that have been out of work for more than six months due to a lack of employable job skills. Would this program likely raise or reduce the natural rate of unemployment? Part 4: Suppose that the government launches an n matches potential employers with qualified applicants. Would this program affect cyclically unemployed, frictionally unemployed, or structurally unemployed individuals? We jobs website that quickly Part 5: Suppose that the government launches a new jobs website that quickly matches potential employers with qualified applicants. Would this program likely raise or reduce the natural rate of unemployment?