Ask Question
24 December, 00:10

The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree, 40.59 million of whom were employed and 0.98 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

1.76.3% and 1.8%

2.76.3% and 2.4%

3.78.1% and 1.8%

4.78.1% and 2.4%

+4
Answers (1)
  1. 24 December, 02:57
    0
    Answer: 76.3% and 2.4%

    Explanation:

    Labour force=40590000

    Workingagepopulation=53230000

    1. Labour Force Participation rate = Labour force / working age population * 100

    = 40590000/53230000 * 100

    = 76.3%

    2. Unemployment Rate

    Unemployed = 980000

    Employed = 40590000

    = Unemployed/employed * 100

    = 980000/40590000 * 100

    = 2.4%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree, ...” 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