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Calculate the labor force participation rate

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Reference no: EM131582111

Question: The small country of Nederland counts its unemployed using the same methods as the United States. Of the population of 350 people, 70 are under age 16, 190 are employed in paid work, and 80 are adults who are not doing paid work or looking for work because they are doing full-time family care, are retired or disabled, or are in school. The rest are unemployed. (No one is institutionalized, and the country has no military.) Calculate the following:

a. The number of unemployed

b. The size of the labor force

c. The unemployment rate

d. The labor force participation rate (overall, for both sexes)

Reference no: EM131582111

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