In November 1995 the labor force in Aberdeen, South Dakota, was 14,800. There were 14,483 persons employed. The local unemployment rate:

Question

Quizplus · Accepted Answer

To find the unemployment rate, we need to divide the number of unemployed individuals by the labor force and multiply by 100.

Number of unemployed individuals = Labor force - number of employed individuals

Number of unemployed individuals = 14,800 - 14,483 = 317

Unemployment rate = (317/14,800) x 100 = 2.1%

Therefore, the local unemployment rate was 2.1%. Option B is the correct answer.

In November 1995 the Labor Force in Aberdeen, South Dakota