Business, 10.08.2021 01:00 tkailyn

Assume you have the following information about an economy: Labor Force of an Economy Number of People (millions) Population over age 16 245.30 Labor force 154.80 Not in the labor force 90.50 Employed 146.00 Unemployed 8.80 Instructions: Round your answers to 2 decimal places. a. What is the unemployment rate in this economy? 5.68 % b. What is the labor force participation rate? 63.11 % c. Suppose that 0.9 million currently unemployed workers decide to no longer actively look for work. What is the unemployment rate in this economy now? % d. What is the new labor force participation rate? %

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