Calculate the unemployment-rate-employment rate

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1. If in Canada the working-age population is 34 million, 17.5 million are employed, 1.5 million are unemployed, and 2 million of the employed are working part-time, half of whom wish to work full-time. Calculate the unemployment-rate, employment rate and participation rate (for each calculation, show the formula and your work).

2. How are the results for the employment rate and participation used (i.e., what do the numbers tell us)?

Reference no: EM132476595

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