Homework Answers
Unemployment rate = (Unemployed ÷ Labor Force) × 100
Total percentage of the labor force who are either unemployed, underemployed or discouraged workers = [(Unemployed + Discouraged and Underemployed) ÷ (Labor Force + Discouraged and Underemployed)] × 100
Unemployment rate = 5.5% (given)
Total percentage of the labor force who are either unemployed, underemployed or discouraged workers = 8.4% (given)
So, total percentage of the labor force who are either unemployed, underemployed or discouraged workers is calculated by adding discouraged and underemployed people in numerator and denominator of the unemployment rate.
So, percentage of discouraged workers and underemployed workers is 8.4% – 5.5% = 2.9%
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