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3. (Unemployment Rate) The following are data at the end of 08/2023: Total Population = 340 million Working-Age Population = 270 million Unemployed = 9
3. (Unemployment Rate) The following are data at the end of 08/2023: Total Population = 340 million Working-Age Population = 270 million Unemployed = 9 million Employed = 190 million Job reports: At the end of 09/2023, 0.5million of the unemployed found jobs, 0.6million initial claims were filed, 0.3million lost jobs and immediately retired, 1.1million re/entered the labor force and found jobs. a) (4 points) Revise the data above from the 08/2023 job reports to obtain 09/2023 labor market data. b) (4 points) Find the unemployment rate, and labor force participation rate for 09/2023
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