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10. The following table summarises the size of the labour force and employment data for a local economy for two consecutive years. Use these data

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10. The following table summarises the size of the labour force and employment data for a local economy for two consecutive years. Use these data to calculate the number of people unemployed and the unemployment rate for each of the four years. Year : Size of Number Number Unemployment Labour Force Employed Unemployed Rate 1 106,940 99,302 2 124,870 118,409 11. Suppose that, initially, the Eastern state is in equilibrium with no unemployment: Ls = 1000000 + 200w and Lp =19000900-300w, where L is the number of workers and w is the annual wages. Then, structural unemployment arises because the demand for labour falls in East, but no one moves out of state. If labour demand falls to L = 18000000-300w, find how many workers will be unemployed in Eastern state. What will be its unemployment rate

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