An economy has a population of 226,500.Of them,12,500 are unemployed and actively seeking work,and 35,000 have given up looking for a job.Also,28,000 people work part-time,and 151,000 people work full-time.This economy's unemployment rate is _______.(Round the percentage to one decimal place;for example,0.0436 is 4.4%. )

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Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people actively seeking work divided by the labor force (employed + unemployed actively seeking work). The labor force is 12,500 (unemployed) + 151,000 (full-time) + 28,000 (part-time) = 191,500. The unemployment rate is (12,500 / 191,500) * 100 = 6.5%.

An Economy Has a Population of 226,500