Scenario: The Employment Rate
A group of 10 people includes three retirees,two part-time workers,two discouraged workers,one unemployed worker,and two full-time workers.
The unemployment rate is _____%.

Question

Quizplus · Accepted Answer

To calculate the unemployment rate, we need to divide the number of unemployed workers by the total labor force (which includes all employed and unemployed individuals). In this group, we have one unemployed worker, two part-time workers, two discouraged workers, and two full-time workers, making a total labor force of 7 individuals. Therefore, the unemployment rate is (1/7) x 100 = 14.3% which is closest to choice C) 20.

Scenario: the Employment Rate