Ask Question
24 May, 13:07

In 2009, based on concepts similar to those used to estimate U. S. employment figures, the Japanese adult non - institutionalized population was 110.272 million, the labor force was 65.36 million, and the number of people employed was 62.242 million. According to these numbers, the Japanese labor-force participation rate and unemployment rate were about

A 56.4% and 2.8%.

B 56.4% and 4.8%.

C 59.3% and 2.8%.

D 59.3% and 4.8%.

+3
Answers (1)
  1. 24 May, 17:04
    0
    Option (D) is correct.

    Explanation:

    Given that,

    Japanese adult non - institutionalized population = 110.272 million

    Labor force = 65.36 million

    Number of people employed = 62.242 million

    Labor force participation rate is calculated as the percent of adult population involved in the labor force.

    Labor force participation rate:

    = (Labor force : adult non - institutionalized population) * 100

    = (65.36 : 110.272) * 100

    = 0.5927 * 100

    = 59.27% or 59.3%

    Unemployment rate is calculated as the percent of people unemployed among the labor force.

    Number of people unemployed:

    = Total labor force - Number of employed

    = 65.36 - 62.242

    = 3.118 million

    Unemployment rate:

    = (Number of people unemployed : Labor force) * 100

    = (3.118 : 65.36) * 100

    = 0.0477 * 100

    = 4.77% or 4.8%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “In 2009, based on concepts similar to those used to estimate U. S. employment figures, the Japanese adult non - institutionalized ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers