Final answer:
The group of people above 16 who are actively working or seeking work is called the labor force. This includes individuals who are employed and those who are unemployed but actively looking for work. The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force and multiplying the result by 100.
Step-by-step explanation:
The group of people above 16 who are actively working or seeking work is called the labor force. This includes individuals who are employed and those who are unemployed but actively looking for work.
The labor force consists of various types of workers, such as construction workers, salespeople, and white-collar workers. It does not include high school and college students.
The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force and multiplying the result by 100. This allows us to measure the proportion of the labor force that is unable to find work.