In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Swedish adult non-institutionalized population was 6.712 million,the labor force was 4.576 million,and the number of people employed was 4.276 million.According to these numbers,the Swedish labor-force participation rate and unemployment rate were about
A)59.5%, 4.5%
B)59.5%, 6.6%
C)68.2%, 4.5%
D)68.2%, 6.6%

Question

Quizplus · Accepted Answer

The labor-force participation rate is calculated as (labor force / adult population) * 100 = (4.576 / 6.712) * 100 ≈ 68.2%. The unemployment rate is calculated as ((labor force - employed) / labor force) * 100 = ((4.576 - 4.276) / 4.576) * 100 ≈ 6.6%.

In 2004,based on Concepts Similar to Those Used to Estimate