ECO403 Macroeconomics Assignment No 01 Spring 2019 Solution & Discussion Due Date:28-05-2019
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Thank you bro, very supportive but as per my little knowledge there is something wrong with the unemployment rate, ho we can calculate this rate within the whole population? I think first we need to calculate labor force with the sum of Employed persons and unemployed persons, if any one agreed with my statement kindly justify.
You are right
By Asfa ahmed
dear members , in unployment %age formula no of un employed persons divided by total labor force multiplied by 100,total labor force is unemployed plus employed persons,is it correct?
CATEGORIES OF THE POPULATION
• Employed: working at a paid job
• Unemployed: not employed but looking for a job
• Labor force: the amount of labor available for producing goods and services; all
employed plus unemployed persons
• Not in the labor force: not employed, not looking for work.