If 160 million workers are in the labor force and of those workers 2.5 million are frictionally unemployed and 3.5 million are structurally unemployed, the natural rate of unemployment is: 3.75%.
Natural rate of unemployment
Using this formula
Natural rate of unemployment=(Frictionally unemployed+ Structurally unemployed)/Labor force ×100
Let plug in the formula
Natural rate of unemployment=((2.5 million + 3.5 million)/160 million) ×100
Natural rate of unemployment=3.75%
Therefore If 160 million workers are in the labor force and of those workers 2.5 million are frictionally unemployed and 3.5 million are structurally unemployed, the natural rate of unemployment is: 3.75%.
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