How to caluclate labor force & unemployment rate?

Pop: 5000, Under age 16: 2000, Retirees: 1000, Institutionalized: 300, Looking for Work: 300

How to caluclate labor force %26amp; unemployment rate?loan forgiveness

labor force = 5000 - (2000+1000+300) = 1700

unemployment rate = 300 / 1700

+++++++++++++++

Meg:

you missed the 300 institutionalized people.

How to caluclate labor force %26amp; unemployment rate?

loan

People looking for work are part of the labor force so

=5000-2000-1000=2000

Unemployment rate=300/2000