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

Employed150
Unemployed9
Not in Labor Force75

Using the data above calculate Labor Force for Canada.

million

 

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

Employed110
Unemployed17
Not in Labor Force75

Using the data above calculate unemployment rate for China.

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
Unemployed14
Not in Labor Force85

Using the data above calculate adult population for Slovenia.

million

 

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

Employed140
Unemployed13
Not in Labor Force95

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

 



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

Employed110
Unemployed11
Not in Labor Force85

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?