There are 630,700 residents in a certain metropolitan area.Of these 630,700 people,214,400 residents are under 16 years of age,and 38,500 are institutionalized adults.People in the last two categories are not considered to be in the labor force.Of the remaining 377,800 residents,47,900 have given up searching for a job,15,800 are unemployed and actively seeking work,and 62,820 work part-time.The rest work full time.
a.Calculate the unemployment rate for this metropolitan area.Round the percentage to one decimal place;that is,0.0436 is 4.4%
b.If this economy is similar to that of the United States,is this unemployment rate a cause for concern? Choose One: Yes/No.Defend your answer.

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The Answer of There are 630,700 residents in a certain metropolitan area.Of these 630,700 people,214,400 residents are under 16 years of age,and 38,500 are institutionalized adults.People in the last two categories are not considered to be in the labor force.Of the remaining 377,800 residents,47,900 have given up searching for a job,15,800 are unemployed and actively seeking work,and 62,820 work part-time.The rest work full time.
a.Calculate the unemployment rate for this metropolitan area.Round the percentage to one decimal place;that is,0.0436 is 4.4%
b.If this economy is similar to that of the United States,is this unemployment rate a cause for concern? Choose One: Yes/No.Defend your answer.

There Are 630,700 Residents in a Certain Metropolitan Area