The BLS survey reported the following data in a community of 320 people: 200 worked at least

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The BLS survey reported the following data in a community of 320 people: 200 worked at least 1 hour as paid employees; 20 did not work but were temporarily absent from their jobs; 40 did not have jobs and didn’t want to work; 10 were available for work and last week they had looked for work; and 6 were available for work and were waiting to be recalled to their previous job. Calculate the unemployment rate and the labor force participation rate.

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Foundations of Macroeconomics

ISBN: 978-0134492001

8th edition

Authors: Robin Bade, Michael Parkin

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