Determine the number of employed workers

Reference no: EM131403022

Suppose that the unemployment rate is 5%, the total working-age population is 100 million, and the number of unemployed is 2.5 million. Determine:

(i) the participation rate;

(ii) the labor force;

(iii) the number of employed workers; and

(iv) the employment/population ratio.

Reference no: EM131403022

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