Labour force participation rate and unemployment rate
Labour force participation rate and unemployment rate
Macroeconomics
1. The BLS estimates that in 2002, the number of working-age adults was 211.9
million, labour force was 141.8 million, and the total number of employed was 135.1
million. Calculate the following:
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a. Labour force participation rate
b. Unemployment rate.
2. What is national income accounting and why is it useful?