How can i calculate the # of people employed and the labor force by given the population and unemployment rate

Question

How can i calculate the # of people employed and the labor force by given the population and unemployment rate

Answer 1

you can't even if it's 0.  the definition of unemployment is so narrow it doesn't include a portion of the population not employed.  It only includes those actively seeking work.  Which is why the unemployment rate in the early 20th century wasn't 50% considering all the housewives. You have to find out the number of employed from tax filing stats.

Answer 2

if you are given the labor force, population rate and the unemployment rate, you take the labor force and multiple that by the unemployment rate and then you subtract that number from the labor force and you have the number of people employed.  Or, you could subtract the unemployment rate from 100 and then multiple that by the labor force.  For example if the unemployment rate was 5% and the labor force was 100, 95 people would be employed and 5 would be unemployed because .05 * 100= 5.