The following is information about labor market:   Entire Population 800 People under the age of 16 75 Retired people 200 Number of people with full time job 250 Number of people with part time job 175 Number of people without a job but looking for one 75 Number of people without a job and not looking for it 25   What is the unemployment rate? What is the labor force participation rate?

Essentials of Economics (MindTap Course List)
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ISBN:9781337091992
Author:N. Gregory Mankiw
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Chapter20: Unemployment
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The following is information about labor market:

 

Entire Population

800

People under the age of 16

75

Retired people

200

Number of people with full time job

250

Number of people with part time job

175

Number of people without a job but looking for one

75

Number of people without a job and not looking for it

25

 

  1. What is the unemployment rate?
  2. What is the labor force participation rate?

.

please make sure the answer is correct 100%

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