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The population of Coukouville is 10,000
The population of Coukouville is 10,000. Of that number 2,000 are under 16 or institutionalized, 3,000 are not in the labor force, and 250 are currently unemployed. What is the unemployment rate in Coukouville?
Expert Solution
Answer : Based on given information,
Employed = Population - People who are under 16 or unstitutionalized - People who are not in labor force - Unemployed people
=> Employed = 10,000 - 2,000 - 3,000 - 250
=> Employed = 4,750
Labor force = Employed + Unemployed people
=> Labor force = 4,750 + 250 = 5,000
Unemployment rate = (Number of unempolyed people / Labor force) * 100
=> Unemployment rate = (250 / 5000) * 100
=> Unemployment rate = 5%
Therefore, in Coukouville the unemployment rate is 5%.
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