$$\begin{array} { | l | l | l | l | }
\hline \begin{array} { l }
\text { Total } \
\text { population } \
\text { (millions) }
\end{array} & \begin{array} { l }
\text { Currently } \
\text { employed } \
\text { (millions) }
\end{array} & \begin{array} { l }
\text { Not working } \
\text { and looking } \
\text { for work } \
\text { (millions) }
\end{array} & \begin{array} { l }
\text { Want to work but } \
\text { no longer looking } \
\text { for work } \
\text { (millions) }
\end{array} \
\hline 80 & 40 & 2 & 4 \
\hline
\end{array}$$
-In the table above, the official U-3 unemployment rate is
A) 50 percent.
B) 15 percent.
C) 5 percent.
D) 10 percent.

Question

$$\begin{array} { | l | l | l | l | } 
\hline \begin{array} { l } 
\text { Total } \
\text { population } \
\text { (millions) }
\end{array} & \begin{array} { l } 
\text { Currently } \
\text { employed } \
\text { (millions) }
\end{array} & \begin{array} { l } 
\text { Not working } \
\text { and looking } \
\text { for work } \
\text { (millions) }
\end{array} & \begin{array} { l } 
\text { Want to work but } \
\text { no longer looking } \
\text { for work } \
\text { (millions) }
\end{array} \
\hline 80 & 40 & 2 & 4 \
\hline
\end{array}$$
-In the table above, the official U-3 unemployment rate is 
A) 50 percent.
B) 15 percent.
C) 5 percent.
D) 10 percent.

Quizplus · Accepted Answer

The official U-3 unemployment rate is calculated as the number of unemployed persons divided by the labor force. The labor force is the sum of the employed and unemployed persons. In this case, the labor force is 40 + 2 = 42 million. The unemployment rate is therefore 2 / 42 = 5%.

-In the Table Above, the Official U-3 Unemployment Rate Is