Use the following information to find the unemployment rate. The categories do not overlap. •• Aged...

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%

Solutions

Expert Solution

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%)

Rahul Sunny answered 1 year ago

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