Question: The table below shows labour force information for a hypothetical economy. Answer the following questions, writing out millions of workers to two decimal places e.g.


The table below shows labour force information for a hypothetical economy. Answer the following questions, writing out millions of workers to two decimal places e.g. 1.00 million and percentages to one decimal place e.g. 1.0%. 2014 2015 Total population 15 years and over 3.50 million 3.50 million Those 15 years and over not in the labour force 1.20 million 1.20 million population Part-time workers who wish to have full-time jobs 85,000 110,000 Part-time workers who do not wish to have full-time 260,000 335,000 jobs Discouraged workers 345,000 445,000 Workers with full-time jobs 1.00 million 1.10 million Unemployed members of the labour force 120,000 130,000 a. The labour force population in 2014 is million while the labour force is million. The participation rate in 2014 is % and the official unemployment rate is %. The labour force population in 2015 is million while the labour force is million. The participation rate in 2015 is % and the official unemployment rate is %. b. Between 2014 and 2015 the official unemployment rate has (Click to select) | while the number of unemployed members of the labour force has (Click to select) v. c. If the unemployment rate included underemployed and discouraged workers, the unemployment rate would be % in 2014 and % in 2015
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