Calculate the unemployment rate

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Reference no: EM13771107

In July, 2013, in the economy of Sandy Island, 10,000 people were employed and 1,000 were unemployed. During August, 2012, 80 people lost their jobs and did not look for new ones, 20 people quit their jobs and retired, 150 people were hired or recalled, 50 people withdrew from the labor force, and 40 people entered or reentered the labor force to look for work. Calculate the unemployment rate in July and August 2013.

Reference no: EM13771107

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