Suppose some country had an adult population of about 25 million, a labor-force participation rate of 60 percent, and an unemployment rate of 6 percent. How many people were employed?

Question

Quizplus · Accepted Answer

The labor force is 60% of the adult population, or 0.6 * 25 million = 15 million. The unemployment rate is 6% of the labor force, or 0.06 * 15 million = 0.9 million. Therefore, the number of people employed is 15 million - 0.9 million = 14.1 million.

Suppose Some Country Had an Adult Population of About 25