You have been asked by the king of the small island nation of Littleston to present the labor force data listed below.
You have been asked by the king of the small island nation of Littleston to present the labor force data listed below.
| Number of employed | Working-age population | Labor force |
| 20,000 | 40,000 | 32,000 |
Using this data, calculate the number of unemployed people, the unemployment rate, and the labor force participation rate.
Enter your answers in the table below. (Give all answers to two decimals.)
| Number of unemployed people | Unemployment rate | Labor force participation rate |
 | % | % |
Homework Answers
Number of unemployed people = Labor force - employed = 32000 - 20000 = 12000
Unemployed rate = unemployed / labor force * 100 = 12000 / 32000 * 100 = 37.50%
Labor force participation rate = Labor force / Working age * 100 = 32000 / 40000 * 100 = 80%
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You have been asked by the king of the small island nation of Littleston to present the labor force data listed below.
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