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    Unemployment calculation

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    Suppose the following data describes a nation's population:

    Year 1 Year 2

    Population 150 million 225 million
    Labor Force 120 million 180 million
    Unemployment rate 7% 5%

    a) How many are unemployed each year? Year 1______

    Year 2 ______

    b) How many are employed each year? Year 1______

    Year 2 ______

    c) Calculate the employment rate for each year. Year 1 ______
    (Employment rate = number employed/population)
    Year 2 ______

    d) How can the employment rate rise when the unemployment rate is constant?

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    https://brainmass.com/business/accounting/unemployment-calculation-118684

    Solution Preview

    Year 1 Year 2

    Population 150 million 225 million
    Labor Force 120 million 180 million
    Unemployment rate 7% 5%

    a) How many are unemployed each year?
    Year 1: 8.4 Million members of the labor force
    Year 2: 9 Million ...

    Solution Summary

    This solution calculates unemployment and employment.

    $2.19

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