Compute the unemployment rate for this country

Reference no: EM133630168

Question: Consider an island economy where a total number of 10,000 people live. The Federal Government compiled the below demographics for its total population: SI. No. Citizen Demography Number of People 1 Between the age of 65-70 (pensioners) 950 2 Self employed (doctors, accountants, singers etc.) 1,100 3 Working for corporate and organizations 2,300 Housewives (ladies managing house and babies) 150 College Passouts Searching for Jobs 250 6 Between 18-21 (University attending bachelors) 750 7 Between the age of 0-4 (babies) 650 8 College Passout Taking Loans for Starting Factories 40 9 University Students (looking for seasonal parttime jobs) 620 10 College Passout (started looking for Jobs this week) 50 11 Person running corporates, businesses and groceries 850 12 Between the age of 60-62 (looking for active jobs) 390 13 Between the age of 4-18 (school students) 1,350 14 Farmers, plumbers, truck drivers, electricians etc. 550 CANADA 25C APERS Compute the unemployment rate for this country and explain your calculus?

Reference no: EM133630168

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