Tuesday, July 14, 2009

Economic help please?

Was wondering if i am doing this right



population: 200 million



labor force: 120 million



unemployment rate: 6%



How many people are unemployed each year? i got 80 mil



how many are employed? got 120



you guys think these are right?



Economic help please?student loans company





Just because someone is in the labor force doesn%26#039;t mean s/he is employed. It just means that s/he has or wants a job.



Unemployed = 120 * 6%= 7.2 mil



Employed = 120 * (1-6%)= 112.8 mil



Economic help please?

loan



Ignore the population since it can also include ppl under age 15. Only ppl in the labour force is counted. To get the number of unemployed ppl, take 6% * 120 mil. That%26#039;s your answer.

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