Economics Class
The labor force is comprised of those who are working for any number of hours (the employed) and those who are out of work but actively looking for a job (the unemployed)
Calculate the size of the labor force. The size of the adult populations is 30,000. The number working is 17,700 and the number of unemployed actively looking for work is 1,600
a.) Labor force: how many people
b.) Calculate the labor force participation rate Round your answer to one decimal place
c.) Calculate the unemployment Rate Round your answer to one decimal place.