Answer to Question #59589 in Macroeconomics for ali

Question

Employment Problem.
Data in millions. Total pop. = 350. Military = 1. Under 16 = 70.
NILF = 38. Discouraged = 42. Over 65 = 90. Out of the country = 2.
Institutional = 3. Unemployed = 12.
Determine the employment rate..

Answer 1

Unemployment rate = number of unemployed/ total labor force
Unemployment rate = (12/(1+42+3)·100 = 26%