7. A town has a total population of five thousand, of whom four thousand are aged sixteen and above. The nearby Universi

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7 A Town Has A Total Population Of Five Thousand Of Whom Four Thousand Are Aged Sixteen And Above The Nearby Universi 1 (608.84 KiB) Viewed 37 times

7. A town has a total population of five thousand, of whom four thousand are aged sixteen and above. The nearby University is currently studying the town's labor force after recent allegations of unusual work patterns by the town's inhabitants. The university's labor economists find that only one thousand of the town's inhabitants are currently employed, mostly at a small gold refinery running of the leanest kind of part-time. A further 100 townspeople are classified as unemployed---not working but currently searching for new employment. Based on these finding, what is the current labor force participation rate and percentage out of the labor force? 27.5% and 72.5% O 26.5% and 71.5% 22.5% and 73.5% o 25.5% and 70.5%