Unemployment rate 5.0%      Participation rate 62.5%      Not in the labor force  60 million Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers. Instructions: Enter your responses as whole numbers. Labor force:   million Working-age population:   million Number of employed workers:   million Number of unemployed workers:   million

Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter21: Unemployment
Section: Chapter Questions
Problem 45P: A country with a population of eight million adults has five million employed, 500,000 unemployed,...
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Ellen is downloading labor market data for the most recent month, but her connection is slow. So far this is all she has been able to get:
  

     Unemployment rate 5.0%
     Participation rate 62.5%
     Not in the labor force  60 million


Find the labor force, the working-age population, the number of employed workers, and the number of unemployed workers.

Instructions: Enter your responses as whole numbers.

Labor force:   million

Working-age population:   million

Number of employed workers:   million

Number of unemployed workers:   million

 

 

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