Suppose that some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. how many people were unemployed?

Based on the labor force participation rate, the number of unemployed people is 1.5 million people.

The unemployed rate is based on the labor force participation rate and not the adult population.

The labor force is 60% and in absolute value this is:

= 60% x 50 million people

= 30 million people

The unemployment rate is 5% of this:

= 5% x 30 million

= 1.5 million people

In conclusion, there are 1.5 million unemployed people

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