A newspaper article recently stated that there are 45.06 million people over the age of 16 who have completed college education. Of this number, 36.21 million are in the labor force and 35.44 million are employed. What is the unemployment rate for this group of people above the age of 16?

Question

Quizplus · Accepted Answer

The unemployment rate for this group of people can be calculated as (number unemployed / number in labor force) x 100. Thus, the number unemployed = number in labor force - number employed = 36.21 million - 35.44 million = 0.77 million. So, the unemployment rate is (0.77 million / 36.21 million) x 100 = 2.13%. Therefore, the answer is option C.

A Newspaper Article Recently Stated That There Are 45