ECO372 Phoenix Week 2 Labor Force and Rate of Unemployment Paper 3.Use the hypothetical data in the table below to calculate the Labor Force (in millions)

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ECO372 Phoenix Week 2 Labor Force and Rate of Unemployment Paper 3.Use the hypothetical data in the table below to calculate the Labor Force (in millions) and the rate of unemployment (as a percentage) in each year. UnemployedEmployed Year 19.6 million150.4 million Year 212.4 million142.6 million Year 1 Labor Force =unemployment rate = Year 2 Labor Force =unemployment rate =

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