The unemployment rate is an important measure of a country€™s economic health. The unemployment rate measures the percentage of people who are looking for work and who are without jobs. Unfortunately, it can be a misleading statistic because it does not include people who are unemployed and would like to find work but have tried and failed and have become discouraged and are no longer looking for a job. Another way of measuring this economic variable is to calculate the labor participation rate, which is the percentage of adults who are employed. Here are the unemployment rates and labor participation rates (as of May 2016) for the largest economies. Calculate the coefficient of determination and describe what you have learned.

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Labor Participation Unemployment Rate Country Rate Australia Brazil 64.8 5.7 61.5 11.2 7.1 Canada 65.8 Euro Area 56.9 10.2 France 56.1 10.2 Germany India 60.6 4.2 4.9 52.5 Indonesia 65.76 5.5 Italy Japan Mexico 64.5 11.7 59.8 3.2 59.21 3.8 Netherlands 64.2 6.4 Russia 69.2 5.9 62.8 South Korea 3.7 Spain United Kingdom 59.29 21 78.3 5.1 62.6 United States 4.7