Assignment Instructions/ Description
On Coral Island in 2014, the labor force is 12,000, the unemployment rate is 10 percent, and the labor force participation rate is 60 percent.During 2015, 200 unemployed people found jobs and the working-age population increased by 1,000. The total number of people in the labor force did not change.Calculate the working-age population, the unemployment rate, and the labor force participation rate at the end of 2015.At the end of 2015, the working-age population is 21000.At the end of 2015, the unemployment rate is 8.3 percent.>>> Answer to 1 decimal place.At the end of 2015, the labor force participation rate is 57.1 percent.>>> Answer to 1 decimal place.
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