Question

Year total population total employed total unemployed 2011 125647 69997 3572 2012 125810 70127 3730 2013...

Year total population total employed total unemployed
2011 125647 69997 3572
2012 125810 70127 3730
2013 125985 70439 3510
2014 126155 70633 3595
2015 126320 71034 3432

Need the  labor force participation rate and the the unemployment rate for each year

please show your work and the formula used

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Answer #1

labor force = total employed persons + unemployed persons.

unemployment rate = total unemployed persons / labor force. * 100

in year 2011 - labor force = 69997 +3572 = 73569

unemployment rate in 2011 = 3572 / 73569 * 100 = 4.85%

simililary, from using the above formula and concept.

unemployment rate in 2012 = 3730 / 73857 * 100 = 5.05%

unemployment rate in 2013 = 3510 / 73949 *100 = 4.74%

unemployment rate in 2014 = 3595 / 74228 *100 = 4.84%

unemployment rate in 2015 = 3432 / 74466*100 = 4.6%

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