A foreign governmental statistics agency recently reported that there were 48.6 million people over age 25 who had at least a bachelor's degree.Of this number,38.0 million were in the labour force and 36.9 million were employed.What was the unemployment rate in this group?

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed divided by the labor force. Here, 38.0 million are in the labor force and 36.9 million are employed, so 1.1 million are unemployed. The unemployment rate is (1.1 million / 38.0 million) * 100 = 2.9 percent.

A Foreign Governmental Statistics Agency Recently Reported That There Were