Use the data below to answer the following question.
Table 8-1

-Refer to Table 8-1.The figures above (in millions)are for the United States in 2003.The U.S.rates of labor force participation and unemployment equaled what percentages?

Question

Use the data below to answer the following question.
Table 8-1
 
-Refer to Table 8-1.The figures above (in millions)are for the United States in 2003.The U.S.rates of labor force participation and unemployment equaled what percentages?

Quizplus · Accepted Answer

To determine the labor force participation rate, we need to divide the number of people in the labor force by the total civilian non-institutionalized population. 
Labor force = employed + unemployed 
Labor force = 139.4 + 8.2 = 147.6 million 
Civilian non-institutionalized population = 222.8 million 
Labor force participation rate = (147.6 / 222.8) x 100% = 66.2%

To determine the unemployment rate, we need to divide the number of unemployed individuals by the total labor force. 
Unemployment rate = (8.2 / 147.6) x 100% = 5.6%

Therefore, the labor force participation rate is 66.2% and the unemployment rate is 5.6%. 
The closest option is C, which has a labor force participation rate of 66.2% but lists the unemployment rate as 6%.

Use the Data Below to Answer the Following Question