Question

If the labor force averaged 237 million in 2008–2011, by how much in percentage terms did the state and local layoffs described in the "In The News" add to the national unemployment rate, assuming all laid-off workers were actively seeking work?
Instructions: Enter your response rounded to two decimal places.
________ %

Answer 1

Answer:

Follows are the response to the given question:

Explanation:

unemployed people from 2008 to 2011 = 600,000

 labor force from 2008 to 2011 = 237,000,000

Calculating the unemployment rate:

$= (\frac{total \ unemployed \ people}{labor\ force}) \times 100$

$= (\frac{600,000}{237,000,000}) \times 100\\\\= 0.0025 \times 100\\\\ = 0.25\%$

From 2008 to2011 there is 0.25% of the unemployment rate was added.