Calculate number of unemployed and the unemployment rate

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Reference no: EM13998610

An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 part-time jobs, 5 has two part-time jobs, 10 is looking for jobs, 10 are discourage workers who has given up looking for jobs, 10 run their own businesses, 10 are retired, and 10 small children.

a) Calculate the labor force and the labor-force participation rate

b) Calculate the number of unemployed and the unemployment rate

c) Calculate total employment in two ways: as measured by the household survey and as measured by the establishment survey

Reference no: EM13998610

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