Next questions refer to the following information: In Rivendell, which has 2000

Question

Next questions refer to the following information: In Rivendell, which has 2000 residents, 800 people do not currently work. Of these 800 persons, 370 are under age 16, 30 are institutionalized, 100 have become discouraged and quit seeking work, and 250 others are either full-time students or home-makers. Of the 1200 people who do work, 270 work part-time but wish to work full-time. (10 marks)

a. What is the size of labor force in Rivendell?

b.         The number of officially employed persons in Rivendell is:

c.         The employment-population ratio in Rivendell is:

d.         What is the official unemployment rate in Rivendell?

Explanation / Answer

Answer : a.) 1200

b.)270

c.)270/1200 = 22.5 %

e.) 77.5 %

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