Sunday, August 9, 2009

How many people were unemployed in 2002 given those numberss?

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.

No comments:

Post a Comment