If the number of unemployed workers is 1.9 million, the number in the working-age population is 50 million, and the unemployment rate is 4%, how many workers are in the labour force?
A)1 million
B)20 million
C)47.5 million
D)48.1 million
E)50 million

Question

Quizplus · Accepted Answer

To find out the number of workers in the labor force, we need to first calculate the labor force participation rate, which is the percentage of the working-age population that is in the labor force. We can calculate this as follows:

Labor force participation rate = (Labor force / Working-age population) x 100%
4% = (Labor force / 50 million) x 100%
Labor force = (4/100) x 50 million
Labor force = 2 million

Now that we know the labor force is 2 million, we can find out the number of unemployed workers by using the unemployment rate:

Unemployment rate = (Number of unemployed workers / Labor force) x 100%
4% = (1.9 million / Labor force) x 100%
Labor force = (1.9/4) x 100%
Labor force = 47.5 million

Therefore, the number of workers in the labor force is 47.5 million. Answer choice C is correct.

If the Number of Unemployed Workers Is 1