How is unemployment rate calculated quizlet
The difference between the official unemployment rate and the alternate measure of unemployment that includes discouraged workers and underemployed workers: grows when the economy enters a recession Using the data provided in the table below, calculate the labor force participation rate. The unemployment rate in this economy is 10 percent, or .1, and the labor force participation rate is 62.5 percent, or .625. (a) How many people are unemployed? (b) What is the size of the labor force?