00:01
Right here we are told that we have 70 million people who are working who work and then we have 10 million people who don't work they are not working right and then we have 20 million people who are not only not working but they are not looking for a job so and then we have this extra information that doesn't really matter which is that 40 million are under the age of 16.
00:34
Now, since they're not a, they're not of a legal working age, that doesn't count.
00:39
They're not eligible for working.
00:41
So now, we need the unemployment rate, the unemployment rate as a percentage.
00:51
Okay, as a percentage.
00:53
So what we're gonna do is we're gonna say, okay, how many people are trying to work? that's going to be these, right? because these, they're not even looking for a job, so we're going to say those, they're not looking for a job.
01:07
So they're not going to be part of the participation of the labor force.
01:13
So the number of people who are looking for a job or are working is 80 million...