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The Data of Macroeconomics — Work It Out Question 3 An economy has 615 people divided among the following groups: 120 have full-time jobs, 70 have one part-time job, 100 have two part-time jobs, 30 would like to work and are looking for jobs, 25 would like to work but are so discouraged they have given up looking, 30 are running their own businesses, 100 are retired, and 140 are small children
The Data of Macroeconomics — Work It Out Question 3 An economy has 615 people divided among the following groups: 120 have full-time jobs, 70 have one part-time job, 100 have two part-time jobs, 30 would like to work and are looking for jobs, 25 would like to work but are so discouraged they have given up looking, 30 are running their own businesses, 100 are retired, and 140 are small children. .
Round your answers to two places after the decimal where necessary
c. Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey.
Household Survey employment:
individuals Establishment Survey employment:
individuals
Expert Solution
Total employment by household survey = 120+ 70+ 100+ 30+ 25
= 345 People
Total employment by establishment survey = 345- 30+ 100
= 415 people
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