Homework Answers
Employed people:
- 63 people with full time jobs
- 5 people with part time jobs
Unemployed people:
- 16 people whoe do not have jobs, but want them. Only 12 of them had actively looking for a job in the last four weeks. It means there are 12 unemployed people.
Note: A person is said to be unemployed, if he/she doesn't have job but want to do job and actively looking for a job in last four weeks.
Labor force = employed + unemployed
=> Labor force = (63 +5) + 12
=> Labor force = 80
Unemployment rate (U3) = (Unemployed / Labor force)*100
=> Unemployment rate (U3) = (12 / 80) * 100
=> Unemployment rate (U3) = 15%
Answer: Option (C).
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