Economics Asked by maldini425 on April 29, 2021
I am working on state-level data, where one state has recently stopped publishing the absolute figures for the number of the unemployed. Instead, it currently only releases U and LFP rates.
Specifically, the unemployment rate went down from 12% in Q4, 2019, to 11.8% in Q1, 2020, and the labor force survey had the following data:
Q4, 2019
Employed Persons = 3,170,272
LFPR(15) years and above= 46.7%
Unemp Rate 12%
Q1, 2020
Employed Persons = 3,203,423
LFPR(15) years and above= 46.2%
Unemp Rate 11.8%
Therefore, I algebraically rearranged the figures as follows:
Q4, 2019 Q4 2019
LFPR = (# of workers + #of unemployed)/population
0.467 = (3,170,272+#unemployed)/population
So total individuals in the LF == 3,170,272/0.467
==6,788,591
And the Unemployed individuals are == Unemp rate *6,788,591 or .12* 6,788,591
==814,630.92
Q1, 2020
LFPR = (# of workers + #of unemployed)/population
0.462 = (3203423+#unemployed)/p
So total individuals in the LF == 3,203,423/0.462
== 6,933,816
And the Unemployed individuals are == Unemp rate * 6,933,816 or .118* 6,933,816
=
818,190.29
Assuming the imputation method above is correct, then the number of the unemployed has increased
by approximately 4,000 workers between Q4, 2019 and Q1, 2020, despite the apparent decline in the U rate.
Is this a correct imputation approach?
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