Compute the unemployment rate: Employed: 50,000,000 Unemployed: 4,000,000 c. Compute the labor force participation rate: Employed: 12,000,000 Unemployed: 1,000,000 Not in Labor Force: 6,000,000
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So, the unemployment rate would be: Unemployment rate = (4,000,000 / (50,000,000 + 4,000,000)) x 100% Unemployment rate = 7.41% Show more…
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