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Consider the following labor statistics for the adult population (age `16` and older) in Mexico displayed in the table below (all numbers in millions).

Employed130
Unemployed14
Not in Labor Force75

Using the data above calculate Labor Force for Mexico.

million

 

Consider the following labor statistics for adult population (age `16` and older) in Slovenia displayed in the table below (all numbers in millions).

Employed120
Unemployed9
Not in Labor Force95

Using the data above calculate unemployment rate for Slovenia.

million

 

Consider the following labor statistics for adult population (age `16` and older) in the US displayed in the table below (all numbers in millions).

Employed120
Unemployed9
Not in Labor Force75

Using the data above calculate adult population for the US.

million

 

Consider the following labor statistics for adult population (age `16` and older) in Mexico displayed in the table below (all numbers in millions).

Employed130
Unemployed13
Not in Labor Force85

Using the data above calculate labor force participation rate for Mexico.

 



Now let's try it using different numbers. Consider the following labor statistics for adult population (age `16` and older) in Japan displayed in the table below (all numbers in millions).

Employed120
Unemployed14
Not in Labor Force95

First, calculate the unemployment rate. Then suppose that `4` million workers become discouraged and give up looking for a job. Using data above, calculate the new unemployment rate taking into account the discouraged workers.

 

What has happened to the unemployment rate as a result of people who have given up and stopped looking for a job?

 




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