Calculating data for the U.S economy Here are some data for the US. economy in F

Question

Calculating data for the U.S economy Here are some data for the US. economy in February 2006. 227.7 million individuals 16years of age and older 143.2million employed and 7.2 million unemployed Calculate the labor force, the labor force participation rate,and the unemployment rate for the US economy . pls showworking Calculating data for the U.S economy Here are some data for the US. economy in February 2006. 227.7 million individuals 16years of age and older 143.2million employed and 7.2 million unemployed Calculate the labor force, the labor force participation rate,and the unemployment rate for the US economy . pls showworking

Explanation / Answer

a.)Labor force Employed + Unemployed =143.2M + 7.2M =150.40 M b.) Labor force participation rate no.of employed + no.of unemployed   x100    Totalpopulation 143.2 + 7.2    x 100 227.7 = 66% c.) Unemployment rate       unemployed    x 100 unemployed + employed       7.2    x 100 143.2 + 7.2 = 4.787%

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