A small town named Erbia has a labor force of 78,567 persons of whom 74,382 are employed. Erbia's unemployment rate is:
A)5.3 percent.
B)5.6 percent.
C)6.0 percent.
D)7.8 percent.
E)8.9 percent.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed persons divided by the labor force, multiplied by 100. In Erbia, there are 78,567 - 74,382 = 4,185 unemployed persons. The unemployment rate is (4,185 / 78,567) * 100 = 5.3 percent.

A Small Town Named Erbia Has a Labor Force of 78,567