The table describes hypothetical employment statistics for a country in a given year. Labor force Full-time...
The table describes hypothetical employment statistics for a country in a given year.
| Labor force | Full-time workers and voluntary part-time workers |
Involuntary part-time workers | Discouraged workers |
|---|---|---|---|
| 174 million | 162 million | 8 million | 6 million |
Based on the information, what is the unemployment rate? Enter your answer as percentage rounded to one decimal place.
Homework Answers
Number of unemployed people= labor force - employed
= 174 - 162 - 8= 4 million
Unemployment rate= unemployed*100/labor force
= 4*100/174 = 2.3%
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The table describes hypothetical employment statistics for a
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