U.S. adult population by group, June 2017 Number employed = 153.2 million Number unemployed = 7.0...

U.S. adult population by group, June 2017

Number employed = 153.2 million

Number unemployed = 7.0 million

Adult population = 255.0 million

Calculate

the labor force
the unemployment rate
the labor force participation rate

Solutions

Expert Solution

Labor force = number of employed + number of unemployed = 153.2 million + 7 million = 160.2 million.

The unemployment rate = unemployment/ labor force = 7/160.2 = 0.04369 = 4.37%

Labor force participation rate = labor force/ adult population = 160.2 million/ 255 million = 0.62823 = 62.82%.

Rahul Sunny answered 1 year ago

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