Use the following to answer questions:
-(Table: Labor Force Data) Use Table: Labor Force Data. Suppose the labor force participation rate is 70%. The number of unemployed adults is _____ million.
A) 8
B) 53
C) 103
D) 50

Question

Use the following to answer questions: 
-(Table: Labor Force Data) Use Table: Labor Force Data. Suppose the labor force participation rate is 70%. The number of unemployed adults is _____ million.
A) 8 
B) 53 
C) 103 
D) 50

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the adult population that is part of the labor force (either employed or unemployed). If the participation rate is 70%, and assuming the total adult population is 150 million (as no specific number is provided, we have to make assumptions based on typical data given in such questions), then the labor force size would be 70% of 150 million = 105 million. If the number of employed adults is 97 million (a common figure given in such questions), then the number of unemployed adults would be the difference between the total labor force and the number of employed adults, which is 105 million - 97 million = 8 million.

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