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8 November, 21:00

The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree, 40.59 million of whom were employed and 0.98 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

1.76.3% and 1.8%

2.76.3% and 2.4%

3.78.1% and 1.8%

4.78.1% and 2.4%

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  1. 8 November, 21:05
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    Answer: 76.3% and 2.4%

    Explanation:

    Labour force=40590000

    Workingagepopulation=53230000

    1. Labour Force Participation rate = Labour force / working age population * 100

    = 40590000/53230000 * 100

    = 76.3%

    2. Unemployment Rate

    Unemployed = 980000

    Employed = 40590000

    = Unemployed/employed * 100

    = 980000/40590000 * 100

    = 2.4%
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