Posted by **Mac** on Monday, June 29, 2009 at 12:56pm.

(1)

Population: 250,000

Unemployed: 20,000

Labor Force Participation Rate: 80%

(a) How many people are in the labor force?

(b) What is the unemployment rate?

(2)

Not in the labor force: 125,000

Unemployed: 25,000

Employed: 100,000

What is the unemployment rate?

- macroeconomics -
**Mac**, Monday, June 29, 2009 at 12:58pm
How many people are in the labor force and what is the unemployment rate?

- macroeconomics -
**Ms. Sue**, Monday, June 29, 2009 at 1:09pm
Assuming that the population includes only those people between 16 and 64, then 200,000 are working or actively looking for a job. The unemployment rate is 20,000 / 200,000 or 10%.

http://economics.about.com/od/unemploymentrate/f/labor_force.htm

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