Answer:
Instructions are listed below.
Explanation:
Giving the following information:
100 million people, of whom 50 million are working age.
Of these 50 million, 20 million have jobs. Of the remainder: 10 million are actively searching for jobs; 10 million would like jobs but are not searching, and 10 million do not want jobs at all.
We need to know the following concept:
The economic active people are those that are on working age and have a job or are actively looking for one.
Labor force= economic active people
Labor force= 20,000,000 + 10,000,000= 30,000,000
Labor force participation= labor force/ working-age population
Labor force participation= 30,000,000/ 50,000,000= 0.6= 60%
Unemployment rate= unemployed population/ labor force
Unemployment rate= 10,000,000/30,000,000= 0.33= 33%
