Problem
Welcome to Nellyville! The table below contains statistics you can use to calculate the various labor market definitions discussed in class. Assume that full-time students, homemakers, retirees, and those who are too disabled to work are not looking for a job. Also, assume that nobody in Nellyville is institutionalized.
Table 2-1
|
Population (of which 1/2 are 16 and older)
|
10,000
|
|
Full-time Students
|
200
|
|
Retired
|
200
|
|
Currently Working
|
2500
|
|
Called in Sick
|
300
|
|
Full-time homemakers (stay at home moms and dads)
|
100
|
|
Currently on Vacation
|
200
|
|
Others Not Working (100 are too disabled to work and 400 quit looking for work months ago. The other 1000 are actively seeking employment.)
|
1500
|
Calculate the employment to population ratio in Nellyville.