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A country, Azania, has a population of 150 million of which 16 percent is under 16 years old and 18 percent is considered not be in labor force. If 95 million are employed, calculate (a) the employment rate and (b) the unemployment rate. Show all steps.

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Immaculata

Answer:

Explanation:

Employement rate = employed people /total labor force * 100

total labor force = 100 - 18% of population not in labor force =  72  = 0.72 *150million = 108 =million

employment rate  = [tex]\frac{95}{108} *100 = 87.96%\\[/tex]

umployment rate = unemployed people /total labor force = 100 - 87,96 = 12.04%

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