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Use the hypothetical data in the table below to calculate the Labor Force (in millions) and the rate of unemployment (as a percentage) in each year.

Use the hypothetical data in the table below to calculate the Labor Force (in millions) and the rate of unemployment (as a percentage) in each year.

 

           Unemployed             Employed

Year 1            9.6 million                 150.4 million

Year 2            12.4 million               142.6 million

Year 1

Labor Force =                                               unemployment rate =

Year 2

Labor Force =                                               unemployment rate =

Top Answer

labour force = unemployed + employed = 9.6 +150.4 = 160 million in year... View the full answer

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Other Answers

In year 1, labor force = 160 millions and... View the full answer

Year 1 Labor force =160 million... View the full answer

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