Suppose some country had an adult population of about 50 million, a labor-force participation rate of 60 percent, and an unemployment rate of 5 percent. How many people were employed?

Question

Quizplus · Accepted Answer

The labor force is 60% of the adult population, or 0.6 * 50 million = 30 million. The unemployment rate is 5%, so the number of employed people is 30 million * (1 - 0.05) = 28.5 million.

Suppose Some Country Had an Adult Population of About 50