There are 165 million full-time and voluntary part-time workers, 7 million underemployed workers, and 5 million discouraged workers. The labor force is the sum of those that are employed plus the unemployed. Based on the given info, what is the unemployment rate?

Question

Mathematics

Maximo Bass

21 November, 00:15

There are 165 million full-time and voluntary part-time workers, 7 million underemployed workers, and 5 million discouraged workers. The labor force is the sum of those that are employed plus the unemployed. Based on the given info, what is the unemployment rate?

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Answers (1)

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Timothy Hunt · Answer 1

Step-by-step explanation:

It is given that the labor force is the sum of those that are employed plus the unemployed.

Also it is given that full-time and voluntary part-time workers are 165 million

Unemployed people are 7 million

Discouraged people are 5 million

So the labor force = 165million + 7 million = 172 million

Unemploymenr rate = unemployed workers / labour force * 100 = 7/172 * 100=

0.04069767441 * 100 = 4%