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Country Z latest labour survey shows working-age population is 15 million, of which 10 percent have stopped to look for job.8 million people are employed in full time work,4.5 million people are employed in part-time work, and  the remain of people are unemployed.So the total labor force is____ ,the unemployment rate is ___.(1 decimal point)

Question

Country Z latest labour survey shows working-age population is 15 million, of which 10 percent have stopped to look for job.8 million people are employed in full time work,4.5 million people are employed in part-time work, and  the remain of people are unemployed.So the total labor force is____ ,the unemployment rate is ___.(1 decimal point)

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Solution

First, let's calculate the total labor force. The labor force is made up of those who are employed (both full-time and part-time) and those who are unemployed.

The number of people employed full-time is 8 million and the number of people employed part-time is 4.5 million. So, the total number of people employed is 8 million + 4.5 million = 12.5 million.

The working-age population is 15 million, and 10 percent have stopped looking for a job. So, the number of people who have stopped looking for a job is 15 million * 10/100 = 1.5 million.

The number of people unemployed is the working-age population minus the number of people employed and the number of people who have stopped looking for a job. So, the number of people unemployed is 15 million - 12.5 million - 1.5 million = 1 million.

So, the total labor force is the number of people employed plus the number of people unemployed, which is 12.5 million + 1 million = 13.5 million.

Next, let's calculate the unemployment rate. The unemployment rate is the number of people unemployed divided by the total labor force, multiplied by 100 to turn it into a percentage.

So, the unemployment rate is (1 million / 13.5 million) * 100 = 7.4% (rounded to one decimal point).

So, the total labor force is 13.5 million and the unemployment rate is 7.4%.

This problem has been solved

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