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22 January, 19:17

suppose the labor force is 156 million of the possible 242 million working age adults. the total number of unemployment is 15 million. what is the standard unecmployment rate?

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  1. 22 January, 21:16
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    6.19%

    Explanation:

    The formula to compute the standard unemployment rate is presented below:

    Standard unemployment rate = (total number of unemployment : labor force) * 100

    = (15 million : 242 million) * 100

    = 6.19%

    We multiplied the total number of unemployment by the labor force so that the approximate standard unemployment rate can come.
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