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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 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.

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.

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.

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Answer

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VanceElite · Tutor for 8 years

Answer

### 1. 186 (thousands)<br />### 2. 62%<br />### 3. 12%

Explain

## Step 1: Calculate the number of unemployed<br />### Subtract the number of employed from the labor force: $1550 - 1364 = 186$<br />## Step 2: Calculate the labor force participation rate<br />### Divide the labor force by the working age population and multiply by 100: $\frac{1550}{2500} \times 100 = 62\%$<br />## Step 3: Calculate the unemployment rate<br />### Divide the number of unemployed by the labor force and multiply by 100: $\frac{186}{1550} \times 100 = 12\%$
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