Assume the following data for a country: Category Number of People(Millions) Total population 500 Population under 16 years of age or institutionalized 120 Not in labor force 100 Unemployed 14 Part-time workers looking for full-time jobs 10 What is the size of the labor force? __________million What is the official unemployment rate? __________%
Added by Debbie C.
Step 1
Step 1: Calculate the size of the labor force by subtracting the number of people not in the labor force (100) and those under 16 years of age or institutionalized (120) from the total population (500): Labor force = Total population - (Population not in labor Show more…
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Assume the following data for a country: Category | Number of People, Millions Total population | 500 Population under 16 years of age or institutionalized | 120 Not in the labor force | 150 Unemployed | 23 Part-time workers looking for full-time jobs | 10 Instructions: Enter your answers as a whole number. a. What is the size of the labor force? million b. What is the official unemployment rate? percent
Adi S.
Use the following data to calculate $(a)$ the size of the labor force and $(b)$ the official unemployment rate: total population, $500 ;$ population under 16 years of age or institutionalized, $120 ;$ not in labor force, $150 ;$ unemployed, $23 ;$ part-time workers looking for full-time jobs, $10 .$
If a nation has 120 million employed people and 15 million unemployed people, what is the unemployment rate?
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