The following table contains information for the U.S. for 2001. Compute the unem

Question

The following table contains information for the U.S. for 2001.

Compute the unemployment rate and the labor force participation rate.

a. unemployment rate = 4.75 percent; labor force participation rate = 66.8 percent

b. unemployment rate = 4.75 percent; labor force participation rate = 95.25percent

c. unemployment rate = 9.52percent; labor force participation rate = 66.8 percent

d. unemployment rate = 3.17percent; labor force participation rate = 48.8 percent

U.S. Economy: 2001 Thousands of persons Civilian labor force 143,772 Civilian employment 136,940 Civilian working-age population 215,227

Explanation / Answer

a. unemployment rate = 4.75 percent; labor force participation rate = 66.8 percent

Explaintation

Unemployed = Civilian labor force - Civilian employment = 143772 - 136940 = 6832

1. Unemployment Rate = Unemployed/Civilian labor force = 6832/143772 = 0.0475 = 4.75%

2. Labor force participation rate = Civilian labor force/Civilian working-age population

= 143772/215227 = 66.8%

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.