Assume the following data for a country:
Category | Number of People (in Millions) |
---|---|
Total Population | 500 |
Population Under 16 Years of Age or Institutionalized | 120 |
Not in Labor Force | 150 |
Unemployed | 23 |
Part-Time Workers Looking for Full-Time Jobs | 10 |
A) What is the size of the labor force (in millions)?
B) What is the official unemployment rate (in percentage)?