Consider an island economy where a total number of 10,000 people live. The Federal Government compiled...

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Consider an island economy where a total number of 10,000 people live. The Federal Government compiled the below demographics for its total population: Sl. No. 1 2 3 4 45 6 7 8 9 10 Citizen Demography Between the age of 65-70 (pensioners) Self employed (doctors, accountants, singers etc.) Working for corporate and organizations Housewives (ladies managing house and babies) College Passouts Searching for Jobs Between 18-21 (University attending bachelors) Between the age of 0-4 (babies) College Passout Taking Loans for Starting Factories University Students (looking for seasonal parttime jobs) College Passout (started looking for Jobs this week) 11 Person running corporates, bussinesses and groceries Between the age of 60-62 (looking for active jobs) Between the age of 4-18 (school students) 14 Farmers, plumbers, truck drivers, electricians etc. 111 1234 12 13 Number of People 950 1,100 2,300 150 250 750 650 40 620 50 850 390 1,350 550 THE CANADA PAPERS Compute the unemployment rate for this country and explain your calculus? Consider an island economy where a total number of 10,000 people live. The Federal Government compiled the below demographics for its total population: Sl. No. 1 2 3 4 45 6 7 8 9 10 Citizen Demography Between the age of 65-70 (pensioners) Self employed (doctors, accountants, singers etc.) Working for corporate and organizations Housewives (ladies managing house and babies) College Passouts Searching for Jobs Between 18-21 (University attending bachelors) Between the age of 0-4 (babies) College Passout Taking Loans for Starting Factories University Students (looking for seasonal parttime jobs) College Passout (started looking for Jobs this week) 11 Person running corporates, bussinesses and groceries Between the age of 60-62 (looking for active jobs) Between the age of 4-18 (school students) 14 Farmers, plumbers, truck drivers, electricians etc. 111 1234 12 13 Number of People 950 1,100 2,300 150 250 750 650 40 620 50 850 390 1,350 550 THE CANADA PAPERS Compute the unemployment rate for this country and explain your calculus?

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Calculating the Unemployment Rate for the Island Economy To calculate the unemployment rate we need ... View the full answer