Question: Problem Two: Consider the following table: 200 Demographic Group Number of Residents Employed 5000 Unemployed and looking for work 1000 Not working due to disability

Residents Employed 5000 Unemployed and looking for work 1000 Not working due

Problem Two: Consider the following table: 200 Demographic Group Number of Residents Employed 5000 Unemployed and looking for work 1000 Not working due to disability Not working due to retirement 700 Unemployed and not looking for work due to discouragement over job prospects 500 Under the age of 16 2000 Total Population 9400 a) What is the number of people in the labor force? b) Compute the unemployment rate and the employment rate. c) Compute the adult population and the labor force participation rate (LFPR) d) Suppose the job market has dramatically improved. Consequently, all the discouraged decide to look for a job. Compute the new unemployment rate and the employment rate

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