Based on the information in the table, what is the unemployment rate?
$$\begin{array} { | l | r }
\hline \text { Population } 16 \text { and older } & 1,000,000 \
\hline \text { Participation Rate } & 80 \% \
\hline \text { Errployed Workers } & 720,000 \
\hline
\end{array}$$
A)7.2 percent
B)8.0 percent
C)10.0 percent
D)28.0 percent

Question

Based on the information in the table, what is the unemployment rate?  
$$\begin{array} { | l | r } 
\hline \text { Population } 16 \text { and older } & 1,000,000 \
\hline \text { Participation Rate } & 80 \% \
\hline \text { Errployed Workers } & 720,000 \
\hline
\end{array}$$
A)7.2 percent
B)8.0 percent
C)10.0 percent
D)28.0 percent

Quizplus · Accepted Answer

The labor force is 800,000 (80% of 1,000,000). The number of unemployed is 80,000 (800,000 - 720,000). The unemployment rate is 10% (80,000/800,000).

Based on the Information in the Table, What Is the Unemployment