Calculate the labor force participation rate for 2002

Reference no: EM13237594

In 2001, Statistics Canada estimated the labor force at 16,109.8 thousand, employment at 14,946.2 thousand, and the working-age population (15+ years of age) at 24,444.3 thousand.

a)During 2002, the working-age population increased by 353.0 thousand, employment increased by 364.2 thousand, and the labor force increased by 469.5 thousand. Calculate the labor force participation rate for 2002.

b)Calculate the new unemployment rate in 2002.

Reference no: EM13237594

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