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29 September, 08:30

Calculate the unemployment rate and the labor force participation rate in the following case: Unemployed, 10 million; adult population, 200 million; employed, 90 million. The unemployment rate is 5%, and the labor force participation rate is 55%. The unemployment rate is 5%, and the labor force participation rate is 10%. The unemployment rate is 10%, and the labor force participation rate is 50%. The unemployment rate is 50%, and the labor force participation rate is 10%.

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  1. 29 September, 11:13
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    The correct answer is The unemployment rate is 10%, and the labor force participation rate is 50%

    Explanation:

    According to the scenario, the given data are as follows:

    Unemployed = 10 Million

    Population = 200 million

    Employed = 90 million

    So, we can calculate the Unemployment rate and labor force participation rate by using following formula:

    Unemployment rate = Unemployed : (total employed + unemployed)

    Unemployment rate: 10 : (90+10)

    = 10%

    And labor force participation rate = (total employed + unemployed) : Population

    Labor force participation rate = (90+10) : 200

    = 50%
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