The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree,40.59 million of whom were employed and .98 million of whom were unemployed.What were the labor-force participation rate and the unemployment rate for this group?

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Quizplus · Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total population = (40.59 + 0.98) / 53.23 = 78.1%. The unemployment rate is calculated as unemployed / (employed + unemployed) = 0.98 / (40.59 + 0.98) = 2.4%.

The Bureau of Labor Statistics Reported in 2005 That There