Given the data below what is the size of the population that is not in the labor force? (in millions) Total adult population over the age of 16 249.9 million Employed 148.3 million Unemployed 8.7 million

Given the data below what is the size of the population that is not in the labor force? (in millions) Total adult population over the age of 16 249.9 million Employed 148.3 million Unemployed 8.7 million

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

QUESTION 5

Given the data below what is the size of the population that is not in the labor force? (in millions)

Total adult population over the age of 16 249.9 million

Employed 148.3 million

Unemployed 8.7 million

Definition Definition State in which an individual is without work, despite actively seeking employment opportunities. The unemployment rate refers to the percentage of the workforce that is currently unemployed. Unemployment is one of the key indicators of the conditions prevailing in an economy. It is therefore considered a barometer that points out the condition of an economy.

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