The table below shows unemployment and labor force statistics for an economy. Actual rate of unemployment 3% Natural rate of unemployment 4% Population of the country 125 million Number of people employed 97 million Number of people unemployed 3 million Number of people employed part-time 5 million Number of people discouraged workers 2 million Please refer above table: My first question was to calculate the labour force and your answer was the number of people employed plus the Number of people unemployed(97+3)=100 million and in my last question, I asked that if the Number of people employed part-time will be counted in the labor force. Your answer was yes then the labor force should be (number of people employed plus the Number of people unemployed plus the Number of people employed part-time(97+3+5)=105 million. Please clarify.
The table below shows
|
Actual rate of unemployment |
3% |
|
Natural rate of unemployment |
4% |
|
Population of the country |
125 million |
|
Number of people employed |
97 million |
|
Number of people unemployed |
3 million |
|
Number of people employed part-time |
5 million |
|
Number of people discouraged workers |
2 million |
Please refer above table:
My first question was to calculate the labour force and your answer was the number of people employed plus the Number of people unemployed(97+3)=100 million and in my last question, I asked that if the Number of people employed part-time will be counted in the labor force. Your answer was yes then the labor force should be (number of people employed plus the Number of people unemployed plus the Number of people employed part-time(97+3+5)=105 million.
Please clarify.
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