Consider an economy in which every inhabitant described is unique; no one fits i

Question

Consider an economy in which every inhabitant described is unique; no one fits into more than one category. All inhabitants are working-age adults. 3150 people work full-time 2400 people work part-time 400 people aren't working, but are actively looking for jobs on a weekly basis 220 people aren't working, nor are they looking (140 of these used to look, but gave up over a year ago) Calculate the labor force for this economy. Be sure to follow all formatting instructions from the assignment directions.

Explanation / Answer

Here we have to understand that discouraged workers are not included in unemployment or labor force

so here

3150 + 2400+ 400 are the components of workers that are in the labor market

So the labor force is 5950

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