Considering an economy with a total labour force of 151 million people, in which 144 million people are employed and 7 million people are searching for a job. Including the people who are young but have not yet entered into the labour market, the total adult population is 228.4 million people. The retirees are 2.7 million people. Find a). Unemployment rate b). Employment rate c). Participation rate

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Chapter6: Macroeconomic Measurements, Part I: Prices And Unemployment
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Considering an economy with a total labour force of 151 million people, in which 144 million people are employed and 7 million people are searching for a job. Including the people who are young but have not yet entered into the labour market, the total adult population is 228.4 million people. The retirees are 2.7 million people.
Find

a). Unemployment rate b). Employment rate c). Participation rate

 

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