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    Unemployment Information

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    Unemployment data:

    Total Unemployment Labor Force Population
    Year Employment Rate (%) Participation Rate (%) (Millions)

    1950 _____ 4.5 57.9 110.5

    1960 70.5 5.0 60.0 _____

    1970 85.0 _____ 61.0 145.5

    Calculate Total employment, the Unemployment rate and Population where indicated.

    © BrainMass Inc. brainmass.com March 4, 2021, 5:51 pm ad1c9bdddf
    https://brainmass.com/economics/employment/unemployment-information-14625

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    1950
    <br>Total Employment = Population * Labor Force Participation Rate * (1 - Unemployment Rate)
    <br>Total Employment = 110.5 * 0.579 * (1 - 0.045) ...

    Solution Summary

    This solution calculates total employment, unemployment rate and population for different data scenarios.

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