Suppose the labor force is 189 million of a possible 244 million working-age adults. The total number of unemployed is 15 millio

Question

3 years ago

6

n. What
is the standard unemployment rate?

1 answer:

denpristay [2] · Answer 1 · 2022-06-12T10:38:42+03:00

Answer:

The standard unemployment rate is of 0.0794 = 7.94%.

Step-by-step explanation:

The standard unemployment rate, as a proportion, is the number of unemployed people divided by the size of the labor force.

In this question:

Labor force: 189 million

Number of unemployed people: 15 million

What is the standard unemployment rate?

15/189 = 0.0794

The standard unemployment rate is of 0.0794 = 7.94%.