StatsCan reported the following data for January 2001:

• Population - 26,547,962,
• Labour Force - 16,219,800
• Employment - 14, 990,400
• Working-Age Population - 24,764,100
• Retirees - 3,499,083
• Involuntary Part-Time - 2,645,457

1. Calculate the Unemployment Rate(Show your work).(2)
2. Calculate the Labour Force Participation Rate(Show your work)(2)
3. Briefly explain why 0% unemployment is bad for an economy. (3)