Hometown, USA, has a labor force of 78,567 persons and employment of 74,382. The unemployment rate for the city is:
A)5.3 percent.
B)5.6 percent.
C)6.0 percent.
D)none of the above.

Question

Hometown, USA, has a labor force of 78,567 persons and employment of 74,382. The unemployment rate for the city is:
A)​5.3 percent.
B)​5.6 percent.
C)​6.0 percent.
D)​none of the above.

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed persons divided by the labor force, then multiplied by 100 to get a percentage. In this case, the number of unemployed persons is the difference between the labor force and the number of employed persons, which is 78,567 - 74,382 = 4,185. Therefore, the unemployment rate is (4,185 / 78,567) * 100 = 5.3 percent.

Hometown, USA, Has a Labor Force of 78,567 Persons and Employment