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

Employed150
Unemployed10
Not in Labor Force75

Using the data above calculate Labor Force for Norway.

million

 

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

Employed110
Unemployed13
Not in Labor Force95

Using the data above calculate unemployment rate for Canada.

million

 

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

Employed100
Unemployed13
Not in Labor Force95

Using the data above calculate adult population for Slovenia.

million

 

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

Employed140
Unemployed17
Not in Labor Force75

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

 



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
Unemployed15
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?