Reference no: EM132275887
Following information is extracted from a database maintained by the country's ministry of labor:
Total population = 24,512,311
Military personnel = 98,539
People below 15 years of age = 4,240,102
People in elderly care centers = 1,232,130
People who didn't look for job in last 4 weeks = 831,304
House wives whose sole activity is home-making = 3,424,204
Volunteers = 313,200
Self-employed people = 3,423,042
Employment in the governments = 2,026,569
Employment in the private sectors = 8,060,941
a. Calculate labor force participation rate.
b. Calculate unemployment rate.
c. Calculate employment rate.