Enemploymen) in millions Total Noninstitutionalized, civilian working-age population 285 45 People incapable of working 50 People not looking for work 178 Employed workers Use the information in the table above to calculate a. The unemployment rate. (show your calculations and explain)

ENGR.ECONOMIC ANALYSIS
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Chapter1: Making Economics Decisions
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Unemploymen)
in millions
Total Noninstitutionalized, civilian working-age
285
population
People incapable of working
45
People not looking for work
50
Employed workers
178
Use the information in the table above to calculate
a. The unemployment rate. (show your calculations and explain)
b. The labor-force participation rate (show your calculations and explain)
Transcribed Image Text:Unemploymen) in millions Total Noninstitutionalized, civilian working-age 285 population People incapable of working 45 People not looking for work 50 Employed workers 178 Use the information in the table above to calculate a. The unemployment rate. (show your calculations and explain) b. The labor-force participation rate (show your calculations and explain)
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