Calculate the unemployment rate
Problem: Statistics Canada reported the following data for 2016:
Labour force: 19.4 million
Employment: 18.1 million
Working-age population: 29.6 million
Calculate the:
a) Unemployment rate
b) Labour force participation rate
c) Employment
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Problem: What is official Unemployment rate and that is the formula to come by the official Unemployment rate.
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Calculate the: a) Unemployment rate b) Labour force participation rate c) Employment
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From this, you can deduce that Sharon's opportunity cost of attending class today is??
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