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Problem 3 (10 marks) At the begening of 2018, a town has 152,000 employed people and...

Problem 3

At the begening of 2018, a town has 152,000 employed people and 8000 unemployed people. The remaining 40,000

people in the town are not in the labor force.

Based on these​ numbers:

  1. Calculate the​ town's unemployment rate
  2. Calculate the​ town's labor force participation rate
  3. Calculate Suppose that 10,000 people decide to join the labor force. Of these 10,000 people 7,800 find jobs. What is the unemployment rate at the end of 2018?

***Please I don not want answer from internet

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