Group # In millions work-eligible 250 employed 140 unemployed 20
Calculate the unemployment rate, rounding to 1 decimal place. Calculate the labor force participation rate, rounding to 1 decimal place. Suppose the natural rate of unemployment is 6%. Is the economy in expansion or recession? Suppose the natural rate of unemployment is 6%. Is the GDP above or below the full-employment output? Suppose 5 million unemployed people became discouraged. Calculate the new unemployment rate, rounding to 1 decimal place.