Population 2,500.000
unemployment rate 20%
labor force participation rate 80%
How many people were unemployed in 2002 given those numberss?debt consolidation loan
Labor force participation rate is percent of population who want to work (labor force=labor force participation rate x population).
Unemployment rate is the portion of people who are in the labor foce but are unemployed (unemployed=labor force x unemployment rate).
Now just do the math.
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