About what fraction of unemployed persons have been unemployed for less than a month?
A) 1/3
B) 2/3
C) 3/4
D) 4/5

Question

Quizplus · Accepted Answer

Without more information, we cannot determine the exact fraction of unemployed persons who have been unemployed for less than a month. However, data from the Bureau of Labor Statistics (BLS) shows that in March 2021, the median duration of unemployment was 10.3 weeks, or roughly 2.6 months. This means that roughly half of all unemployed persons had been unemployed for less than 2.6 months. Assuming a fairly even distribution of unemployment durations, we can estimate that roughly one-third of unemployed persons had been unemployed for less than a month. Therefore, the best choice is A) 1/3.

About What Fraction of Unemployed Persons Have Been Unemployed for Less