In June 2012, the U.S. labor force consisted of 142,415,000 employed and 12,749,000 unemployed. The U.S. unemployment rate for June 2012 was about
A) 7.4 percent.
B) 8.2 percent.
C) 9.0 percent.
D) 11.2 percent.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed individuals by the total labor force (employed plus unemployed) and multiplying by 100. Using the numbers given, we get (12,749,000 / (142,415,000 + 12,749,000)) x 100 = 8.2%. Therefore, the correct answer is B) 8.2 percent.