In: Economics
Use the following information to find the unemployment rate. The categories do not overlap.
•• Aged 16+ years, in hospitals or jails: 30 people | •• Aged 16+ years, full-time military: 20 people |
•• Aged 16+ years, part-time workers: 30 people | •• Aged 15 years and younger: 150 people |
•• Aged 16+ years, not working, have not looked for work in the last 4 weeks: 40 people |
•• Aged 16+ years, not working waiting to be recalled from a temporary job layoff: 20 people |
•• Aged 16+ years, not working, have looked for work in the last 4 weeks: 90 people |
•• Aged 16+ years, unpaid volunteers, have not looked for work in the last 4 weeks: 40 people |
•• Aged 16+ years, full-time workers: 580 people |
The unemployment rate is,
a. |
14.7% |
|
b. |
15.3% |
|
c. |
17.2% |
|
d. |
18.0% |
|
e. |
18.7% |
b. 15.3%
(Unemployed = 90 people + 20 people = 110 people
Employed = 30 + 580 = 610
Labor force = Unemployed + Employed = 110 + 610 = 720
Unemployment rate = (Unemployed/Labor force)*100 = (110/720)*100 =
15.3%)