An economy has 100 people divided among the following groups: 25 have full-time jobs, 20 have part time job, 5 have 2 part time jobs, 10 would like to work and are looking for jobs, 10 would like to work but are so discouraged they have given up looking, 10 are running their own businesses, 10 are retired, and 10 are small children.
Calculate the labor force and the labor force participation rate.
Calculate the number of unemployed and the unemployment rate.