Suppose that the adult population is 6 million,the number of employed is 3.8 million,and the labor-force participation rate is 70%.What is the unemployment rate?

Question

Quizplus · Accepted Answer

The labor force is 70% of 6 million, which is 4.2 million. The number of unemployed is 4.2 million - 3.8 million = 0.4 million. The unemployment rate is (0.4 million / 4.2 million) * 100 = 9.5%.

Suppose That the Adult Population Is 6 Million,the Number of Employed