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How many people are in countrys labor force find the labor

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Reference no: EM13391973

Labor Market Statistics

Type of statistic Number (millions)

Population under the age of 16 16

Population over the age of 16 54

Retirees 14

Discouraged workers 3

Frictionally unemployed 1.5

Structurally unemployed 2.5

Cyclically unemployed 6

a. How many people are in the country's labor force?

b. What is the labor force participation rate?

c. What is the unemployment rate?

d. What is the natural unemployment rate?

e. What is the rate of cyclical unemployment?

Reference no: EM13391973

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