Assume there are 329 million people in the United States, 153 million of which make up the labor force. If 9 million are unemployed, what is the unemployment rate?

Question

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force and multiplying by 100.

Unemployment Rate = (Number of Unemployed / Labor Force) x 100

Number of Unemployed = 9 million 
Labor Force = 153 million

Unemployment Rate = (9 million / 153 million) x 100 = 5.88%

Therefore, the answer is choice C, 5.88%.

Assume There Are 329 Million People in the United States