What is the unemployment rate in finland

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Suppose there are 12,000 people living in Finland. Of these 12,000 people, 750 are under the age of 16 and 250 are retired. Of the remaining individuals, 6,000 are employed with full time jobs; 3,000 are employed part-time, but wish to work full-time; and 1,000 are currently not working but are looking for work; and the remainder have looked for work in the past, but no longer do so. (Show your calculations).

a) What percentage of the population are discouraged workers?

b) What is the unemployment rate in Finland?

c) Suppose the Bureau of Labor Statistics in Finland hired you to come up with an alternative measure of unemployment. How would you redefine who is unemployed? Calculate the new unemployment rate.

Reference no: EM133273771

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