ECON 203 Lecture 13: Ch09

If the labour force participation rate is 90%, employment is 140 million, there are 20 million adults not in the labour force, what is the unemployment rate? How does one find the number of people that are unemployed and how does one get the answer of 22.2%?

Suppose the labor force in Tiny Town is 100 people. If the ____________ in Tiny Town is 150 people, the labour force participation rate equals __________ multiplied by 100.

The ________ is the percentage of the​ working-age population who are members of the labor force.

Choose the correct option:

A) unemployment rate.

B) labor force participation rate.