The BLS recently reported that there are 45.06 million people over age 16 who have completed a college education.Of this number 36.21 million are in the labor force and 35.44 are employed.What is the unemployment rate for this group?

Question

Quizplus · Accepted Answer

The unemployment rate can be calculated as (unemployed/labor force) x 100.

From the given information, we know that:

- The number of employed individuals = 35.44 million
- The number of individuals in the labor force = 36.21 million

To calculate the number of unemployed individuals, we can subtract the number of employed individuals from the labor force, as follows:

Unemployed individuals = Labor force - Employed individuals
Unemployed individuals = 36.21 million - 35.44 million
Unemployed individuals = 0.77 million

Now, we can calculate the unemployment rate:

Unemployment rate = (Unemployed/Labor force) x 100
Unemployment rate = (0.77/36.21) x 100
Unemployment rate = 2.13%

Therefore, the best choice is C, 2.13%.

The BLS Recently Reported That There Are 45