In March, 2006 the labor department of the country of Jobland determined that th

Question

In March, 2006 the labor department of the country of Jobland determined that the size of the labor force was 105 million out of which 96 million were emplayed. In May 2006, the labor department determined that 1.0 million people became "disoouraged workers" in April. Assuming that no new jobs were created between March and April, calculate the unemployment rate for March and April Jobland unemployment rate in March percent. (Enter your response rounded to one decimal place.) Jobland unemployment rate in Apri percent. Enter your response rounded to one decimal place)

Explanation / Answer

In march, unemployment rate=Unemployed/Employed+Unemployed=9/105*100=8.5714%

In april since 1 million becomes disguished worker, labor force will decrease to 104 million and Unemployed will become 8million

Thus new unemployment rate=8/104*100=7.68%

Related Questions

Navigate

• Browse (All)
• Browse I
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.