Respuesta :
Answer:
Explanation:
The unemployment rate is 5.9%.
The participation rate is 62.5%.
63 million people are not in the labor force.
Now,
Working age population
= labor force + not in labor force
= labor force + 63 million
and,
Participation rate = [tex]\frac{labor\ force}{working\ age\ population}\ \times\ 100[/tex]
62.5% = [tex]\frac{labor\ force}{labor\ force\ +\ 63\ million}\ \times\ 100[/tex]
Labor force = 105 million
and,
Working age population
= labor force + not in labor force
= 105 million + 63 million
= 168 million
now,
Unemployment rate = [tex]\frac{Number\ of\ people\ unemployed}{Total\ labor\ force}\ \times\ 100[/tex]
5.9% = [tex]\frac{Number\ of\ people\ unemployed}{105 million}\ \times\ 100[/tex]
Number of people unemployed = 6.195 million
now,
Labor force = Number of employed people + number of unemployed people
105 million = Number of employed people + 6.195 million
Number of employed people = 105 million - 6.195 million
Number of employed people = 98.105 million
