Homework Answers
Employed:
Worked at least one hour as paid employees or worked 15 hours or more as unpaid workers in their family business (40)
were not working but had jobs or business from which they were temporarily absent (20)
Total employed = 40 + 20 =60
Unemployed:
were available for work and had made specific efforts to find employment some time during the previous four weeks (15)
were available for work and were waiting to be recalled to a job from which they had been laid off.(10)
Total unemployed = 15+10 =25
Out of the labor force: had no employment and were not available to work (15)
Total working Population = Employed + unemployed + out of labor force = 60 +25 +15 = 100
The unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed = 60 + 25 = 85).
The unemployment rate is calculated as: (Unemployed ÷ Labor Force) x 100. = (25 ÷ 85) x 100 = 29.41%
Labor force participation rate = {(Persons employed + persons unemployed) ÷ Working-age population} x 100 = {(60 + 25) ÷ 100} x 100 =85%
Answer: The unemployment rate is 29.41%
The Labour force participation rate is 85%.
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