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use the data below to answer each question to the right. (in thousands) working age 2500 population labor force 1550 employed 1364 not

Question

Use the data below to answer each question to the right. (in thousands) Working age 2500 population Labor force 1550 Employed 1364 Not in the labor force 950 5 1 point Calculate the number of unemployed (in thousands). Typeyouranswer 6 1 point Calculate the labor force participation rate. Typeyouranswer 7 1 point Calculate the unemployment rate.

Answer

4.6 (200 Votes)
Verificación de expertos
Vance Elite · Tutor for 8 years

Answer

### 1. 186 (thousands)### 2. 62%### 3. 12%

Explanation

## Step 1: Calculate the number of unemployed### Subtract the number of employed from the labor force: ## Step 2: Calculate the labor force participation rate### Divide the labor force by the working age population and multiply by 100: ## Step 3: Calculate the unemployment rate### Divide the number of unemployed by the labor force and multiply by 100: