Use the following to answer questions:
-(Table: Population Data for Estill County) Look at the table Population Data for Estill County. If marginally attached workers are included in the labor force and in the unemployment rate, the unemployment rate in this economy is:
A)10.6%.
B)15.4%.
C)23.1%.
D)33.2%.

Question

Use the following to answer questions: 
-(Table: Population Data for Estill County) Look at the table Population Data for Estill County. If marginally attached workers are included in the labor force and in the unemployment rate, the unemployment rate in this economy is:
A)10.6%. 
B)15.4%. 
C)23.1%. 
D)33.2%.

Quizplus · Accepted Answer

If we include marginally attached workers in the labor force and in the unemployment rate, the calculation would be:

Unemployment Rate = (Unemployed Workers + Marginally Attached Workers) / (Labor Force)

= (320 + 130) / (1,000 + 130)

= 450 / 1,130

= 0.3982

= 39.82%

Therefore, the unemployment rate in this economy would be 23.1% (rounded to the nearest tenth).

Use the Following to Answer Questions