The BLS reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalent.From this group 36.40 million were employed and 1.93 million were unemployed.About what were the labor-force participation rate and the unemployment rate for this group?

Question

Quizplus · Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total population, which is (36.40 + 1.93) / 59.98 = 63.9%. The unemployment rate is calculated as unemployed / (employed + unemployed), which is 1.93 / (36.40 + 1.93) = 5.0%.

The BLS Reported in 2005 That There Were 59