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Use the table below to answer the question Category Number of people (millions) 14 123 40 Institutionalized Full-time workers
Part 2 (2 points) See If 4 million of those who are currently unemployed become discouraged workers, the unemployment rate wi
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Answer #1

Answer:

1. Unemployment rate = 8.53

Unemployment rate = No of unempoyed people / Labor force

No of unemployed = 14

Labor force = Full time workers (123) + (part time workers (27) + Looking for work (14) = 164

So, unemplyment rate = 14/ 164 = 8.53

2. If 4 million become discouraged workers, the unemployment rate will decrease. The unemloyment rate is now 6.25

If 4 million become discouraged workers, they are out of labor force. So, now unemployed will be 10 million and labor force will be 160 million

Unemployment rate = 10/ 160 = 6.25

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