Answer:
The question is not complete, below is the complete question:
Suppose that a factory worker turns 62 years old and retires from her job. Which statistic is not affected? A. number of unemployed B. unemployment rate C. labor force D. labor-force participation rate
Answer:
The correct andwer is:
number of unemployed (A.)
Explanation:
The terms highlighted in the options of the question refer to terms associated with the labour force of an economy. Let us take a look at each of them and justify why we chose the option A
1. Number of unemployed: The number of unemployed in an economy refers to the number of people who are without employement, while actively searching for employment, willing to work and have actively sought for employment in the past four weeks. In this example, a factory worker retiring at 62 is not actively looking for work anymore, hence this transition does not affect the number of unemployed individuals in an economy
2. unemployment rate: The unemployment rate refers to the percentage of labor force that is jobless. Mathematically, it is represented as:
In this example, a factory worker retiring at 62, reduces the labor force (number fit to work) in a population, and since the unemployment rate is in turn affected by the labour force (inversely), the unemployment rte is affected by the retiring of the factory worker
3. Labor force: The labor force in an economy are all the individuals who are fit and able to work. It inclues all those who are actively employed and those who are unemployed. A retired factory worker is not part of the labor force, because retirement age disqualifies him/her from being fit to work, hence the retirement reduces the labor force.
4. Labor-force participation rate: This is the coolective numbere of civilians or non-institutional people 16 years or older, who are working or actively looking for work. Retirement reduces the labor-force participation rate