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1 January, 17:36

Assume that the U. S. population is 300 million. If 70 million individuals are legally classified as unable to work (or are less than 16 years of age), 80 million are classified as unwilling to work, and 14 million are unemployed, what is the unemployment rate?

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  1. 1 January, 18:16
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    unemployment rate = 9.33 %

    Step-by-step explanation:

    Given data

    population p = 300 million

    individuals i = 70 million

    unwilling to work U = 80 million

    unemployed UN = 14 million

    to find out

    what is the unemployment rate?

    solution

    we find first labor force that is

    = p - I - U

    put all value

    labor force = 300 - 70 - 80

    labor force = 150 million

    so

    unemployment rate = unemployed / labor force

    put the value

    unemployment rate = 14 / 150

    unemployment rate = 0.0933

    unemployment rate = 9.33 %
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