In 2019, the Labor Force Survey measured the economically active population is 40 million, the employment number is 30 million, and the working-age population is 60 million. Calculate the following for 2019 a) find the unemployment rate:     b) find the Labour force participation rate

Macroeconomics: Private and Public Choice (MindTap Course List)
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Chapter8: Economic Fluctuations, Unemployment, And Inflation
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In 2019, the Labor Force Survey measured the economically active population is 40 million, the employment number is 30 million, and the working-age population is 60 million. Calculate the following for 2019

a) find the unemployment rate:

 

 

b) find the Labour force participation rate

 

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