Using the following data calculate: (i) The number of persons employed.  (ii) The number of persons unemployed.  (iii) The labour force.

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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Using the following data calculate:
(i) The number of persons employed. 
(ii) The number of persons unemployed. 
(iii) The labour force. 
(iv) The Labour Force Participation rate. 
(v) The “official” unemployment rate

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987,156 Currently Working

9845 (ages 13-14) looking for work

23,000 volunteer workers

12,000 (ages 15) looking for work

45,600 Part-Time workers

56 family workers who worked. 15 hrs a week

6543 Discouraged Workers

67,890 laid off receptionists looking for work

234 Self-Employed

67,432 (ages 23-25) looking for work

544,321 (ages 16-20) looking for work

Current population is 6,000,000

5654 Temp Workers

543 recent university graduates that are going back to graduate school

5000 armed forces

3500 institutionalized

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