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 Participation rate 5.0% 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 million Working-age population: Number of employed workers: million Number of unemployed workers: million

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 Participation rate 5.0% 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 million Working-age population: 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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A country with a population of eight million adults has five million employed, 500,000 unemployed, and the rest 0f the adult population is out of the labor force. Whats the unemployment rate? What share of population is in the labor force? Sketch a pie chart that divides the adult population into these three groups.
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Ellen is downloading labor market date 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 How to calculate the employed workers and unemployed workers?
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