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Derived the unemployment rate. Use the data below with solution. Given: Population=110 million Total labor force=63 million Frictionally unemployed=2 million Structurally unemployed=1 million Cyclically unemployed=750
Derived the unemployment rate. Use the data below with solution.
Given:
Population=110 million
Total labor force=63 million
Frictionally unemployed=2 million
Structurally unemployed=1 million
Cyclically unemployed=750 thousand
Seasonally unemployed=250 thousand
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