Questions: Real-Time Data Analysis Exercise The following table displays employment data from FRED* for November, 2024. The values are in thousands of persons. *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. Title Value Unemployment 7,145 Civilian labor force 168,286 Employment level part-time for economic reasons 3,143 When employed individuals become unemployed, the civilian labor force - rises - does not change - falls

Real-Time Data Analysis Exercise
The following table displays employment data from FRED* for November, 2024. The values are in thousands of persons.
*Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis.
Title Value
Unemployment 7,145
Civilian labor force 168,286
Employment level part-time for economic reasons 3,143

When employed individuals become unemployed, the civilian labor force
- rises
- does not change
- falls

Transcript text: Real-Time Data Analysis Exercise The following table displays employment data from FRED* for November, 2024. The values are in thousands of persons. *Real-time data provided by Federal Reserve Economic Data (FRED), Federal Reserve Bank of Saint Louis. \begin{tabular}{lr} \hline \multicolumn{1}{c}{ Title } & \multicolumn{1}{c}{ Value } \\ \hline Unemployment & 7,145 \\ Civilian labor force & 168,286 \\ Employment level part-time for economic reasons & 3,143 \\ \hline \end{tabular} When employed individuals become unemployed, the civilian labor force $\square$ rises does not change falls

Solution

Solution Steps

Step 1: Understanding the Problem

The problem asks us to determine what happens to the civilian labor force when employed individuals become unemployed. We are given three options: the civilian labor force rises, does not change, or falls.

Step 2: Definitions

Civilian Labor Force: This includes all people aged 16 and older who are either employed or actively seeking employment.
Unemployed: Individuals who are not currently working but are actively seeking work.
Employed: Individuals who are currently working.

Step 3: Analyzing the Situation

When employed individuals become unemployed, they move from the "employed" category to the "unemployed" category. However, both employed and unemployed individuals are part of the civilian labor force. Therefore, the total number of people in the civilian labor force does not change when someone moves from being employed to unemployed.