MACRO ECON 6
MACRO ECON 6
6th Edition
ISBN: 9780357689820
Author: MCEACHERN
Publisher: CENGAGE L
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Chapter 7, Problem 2P
To determine

Size of the U.S labor force and the unemployment rate.

Introduction:

Size of labor force refers to the total number of people in the working age group available for work. It is determined by multiplying the labor force participation rate by the total population.

Unemployment rate is the proportion of the unemployed people in the country. It is determined by dividing the number of unemployed people by the labor force.

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