What is this countrys unemployment rate

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The government of a particular small country is facing a huge unemployment crisis. Government officials had just reported that the labor force participation rate was at an all time low of 60%. The number of people without jobs who had stopped looking for one, believing that there were no jobs out there for them, was about 80,000, which represented a fifth of those not in the labor force. Further, the number of people with jobs throughout the economy only totaled 450,000. What is this country's unemployment rate?

Reference no: EM13189080

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