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15 July, 18:16

Suppose the labor force is 155 million of a possible 244 million working-age adults. The total number of unemployed is 13 million. What is the standard unemployment rate?

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  1. 15 July, 20:18
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    Unemployment rate = (number of unemployed/labor force) * 100

    (13/155) * 100 = 8.4%
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