Suppose that the U.S. population is 275 million. Also assume that the labor force is 135 million and that 130 million people are employed. Calculate the unemployment rate.
Suppose that the U.S. population is 275 million. Also assume
that the labor force is 135 million and that 130 million people are employed.
Calculate the unemployment rate.
Answer: The unemployment rate is (5 million unemployed) ÷ (135 million labor force) × 100 = 3.7 percent.
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