Final answer:
The labor force size of the country is 5.5 million. The official unemployment rate is 9.09 percent. The labor force participation rate is 68.75 percent, and these figures can be visualized in a pie chart showing the respective proportions of employed, unemployed, and those not in the labor force.
Step-by-step explanation:
The labor force size is calculated by summing the number of people employed and the number of people unemployed. In the given case, the labor force would be 5 million employed plus 500,000 unemployed, which equals 5.5 million individuals in the labor force. To calculate the unemployment rate, you divide the number of unemployed individuals by the total labor force and then multiply by 100 to convert it to a percentage. Here, the unemployment rate would be (500,000 / 5.5 million) × 100, which equals 9.09 percent.
The labor force participation rate is calculated by dividing the labor force by the total adult population and multiplying by 100 to get a percentage. In this scenario, the rate would be (5.5 million / 8 million) × 100, resulting in 68.75 percent participation rate. Lastly, dividing the adult population into groups consists of the employed (5 million), the unemployed (500,000), and those not in the labor force (2.5 million), which would be visually represented in a pie chart that shows these segments with their corresponding proportions.