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Agata [3.3K]
3 years ago
13

Fill in the blanks to complete the following sentence about labor force and unemployment, assuming country X has the following s

tatistics:total population 16 years old or older = 50,000,000 full-time students = 4,200,000 not employed and not currently searching for jobs = 6,000,000 not employed but currently searching for jobs=2,336,000 currently employed = 29,664,000 Drag words below to fill in the blank(s) in the passage. Country X has a labor force of______, a labor force participation rate of_____, and an unemployment rate of_____.
Business
1 answer:
alukav5142 [94]3 years ago
8 0

Answer:

<em>Country X has a labor force of </em><em><u>32,000,000</u></em><em>, a labor force participation rate of </em><em><u>64%</u></em><em>, and an unemployment rate of </em><em><u>7.3%</u></em><em>.</em>

Labor force:

= Unemployed people + Employed

Unemployed people here are those looking for jobs.

= 2,336,000 + 29,64,000

= 32,000,000 people

Labor force participation rate:

= Labor Force / Population of working age

= 32,000,000/50,000,000

= 64%

Unemployment rate:

= Unemployed / Labor force

= 2,336,000/ 32,000,000

= 7.3%

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