Answer to Question #92312 in Macroeconomics for Unknown287159

Question

Calculate
1. The unemployment rate (2 marks)
2. Labour force participation rate(2 marks)
3. Absorption rate (2 marks)
Given the following:
Statistics south africa reported the following data for 2012. Labour force 17948 000 , Employment 13 422000 , working age population 32 786 000.

Answer 1

Unemployment rate = unemployed / labor force = 25.2%

labour participation rate = employed/working age population = 40.9%

absorbtion rate = labour force/ Working age population = 54.7%