(Answered) Use the hypothetical data in the table below to calculate

Management Studies

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.

Unemployed Employed

Year 1 9.6 million 150.4 million

Year 2 12.4 million 142.6 million

Year 1

Labor Force = unemployment rate =

Year 2

Labor Force = unemployment rate =

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