Calculation of unemployment rate


The size of the labor force in a community is 500, and 400 of these folks are gainfully employed. In this community, 100 people over the age of 16 do not have a job, and are not looking for work. In addition, 200 people in the community are under the age of 16. The unemployment rate is:

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Microeconomics: Calculation of unemployment rate
Reference No:- TGS063635

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