If the unemployment rate is 5.8% and the number of unemployed persons is 15 million,the labor force is approximately:
A) 258 million.
B) 243 million.
C) 87 million.
D) 870 million.
E) 2.6 million.

Question

Quizplus · Accepted Answer

The labor force is the number of people who are employed or unemployed but actively looking for work. The unemployment rate is the percentage of the labor force that is unemployed. So, if the unemployment rate is 5.8% and the number of unemployed persons is 15 million, then the labor force is approximately 15 million / 0.058 = 258 million.

If the Unemployment Rate Is 5