Suppose that:
Adult population: 272 million
Employed adults: 125 million
Unemployed adults: 9 million
a. The unemployment rate is %.
(Enter your response rounded to two decimal places.)
The unemployment rate is 6.74%.
To calculate this, divide the number of unemployed adults by the total adult population:
9 million / 272 million = 0.033088
Then multiply by 100 to convert to a percentage:
0.033088 * 100 = 3.31%
Therefore, the unemployment rate is 6.74% (rounded to two decimal places).
b. The 138
million difference between the adult population and the combined total of people who are employed and unemployed can be classified as
The 138 million difference between the adult population and the combined total of people who are employed and unemployed can be classified as "not in the labor force." This includes individuals who are not actively seeking employment and are not considered unemployed, such as students, retirees, stay-at-home parents, and individuals with disabilities or other barriers to employment.
c.
Based on the above figures, the labor force participation rate
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is enter your response here
%.
(Enter
your response rounded to two decimal places.)
The labor force participation rate is 48.16%.
To calculate this, divide the total number of employed and unemployed adults (i.e., the labor force) by the total adult population, and then multiply by 100:
(125 million + 9 million) / 272 million = 0.486029
0.486029 * 100 = 48.16%
Therefore, the labor force participation rate is 48.16% (rounded to two decimal places).
To calculate the unemployment rate, we need to divide the number of unemployed adults by the total adult population and then multiply by 100.
Number of unemployed adults = 9 million
Total adult population = 272 million
Unemployment rate = (Number of unemployed adults / Total adult population) * 100
Unemployment rate = (9 million / 272 million) * 100
Unemployment rate ≈ 3.31% (rounded to two decimal places)
Therefore, the unemployment rate is approximately 3.31%.
To calculate the unemployment rate, we need to use the formula:
Unemployment Rate = (Number of Unemployed Adults / Number of Employed and Unemployed Adults) * 100
Given that the number of unemployed adults is 9 million and the total number of employed and unemployed adults is the sum of employed and unemployed adults, which is 125 million + 9 million = 134 million.
Plugging the values into the formula:
Unemployment Rate = (9 million / 134 million) * 100 = 6.72%
Therefore, the unemployment rate is 6.72%.