The Bureau of Labor Statistics reported in 2005 that there were 50.40 million people over age 25 whose highest level of education was some college or an associate degree,33.86 million of whom were employed and 1.27 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 = (33.86 + 1.27) / 50.40 = 69.7%. The unemployment rate is calculated as unemployed / (employed + unemployed) = 1.27 / (33.86 + 1.27) = 3.6%.

The Bureau of Labor Statistics Reported in 2005 That There