(Problem 1) Each month, usually on the first Friday of the month, the Bureau of
ID: 1103372 • Letter: #
Question
(Problem 1) Each month, usually on the first Friday of the month, the Bureau of Labor Statistics releases the Employment Situation Summary for the previous month. Below is part of the report showing the employment summary in the U.S. as of February, 2015 Change from: Jan. 2015- Feb. 2015 Feb. 2014 Dec. 2014 Jan. 2015 Feb. 2015 Category Employment status Civilian noninstitutional population 247,085 249,027 249,723 249,899 155,68156,129 157,180 157,002 62.8 45,301 147,44214B,201 14B,297 59.3 8,705 5.5 1,398 92,898 92544 92,898 176 -178 -0.1 96 0.0 -274 -0.2 354 Civilian labor force 63.0 62.7 62.9 Participation rate Employed 58.8 10,387 6.7 59.2 8,688 5.6 59.3 8,979 Employment-population ratio Unemployed Unemployment rate Not in labor force What was the unemployment rate in February of 2015? O 6.7% O 5.7% 5.5%Explanation / Answer
Ans: 5.5%
Explanation:
Unemployment rate = (Unemployed / Labor force) * 100
= (8705 / 157,002) * 100
= 5.5%
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