In 2000 in the United Kingdom, the adult population was about 46.5 million, the

Question

In 2000 in the United Kingdom, the adult population was about 46.5 million, the labor force participation rate was 63.5 percent, and the unemployment rate was 5.8 percent. What was the number of people employed and the number of people unemployed?
a. about 29.5 million and 2.7 million. b. about 29.5 million and 1.7 million. c. about27.8millionand2.7million. d. about 27.8 million and 1.7 million
In 2000 in the United Kingdom, the adult population was about 46.5 million, the labor force participation rate was 63.5 percent, and the unemployment rate was 5.8 percent. What was the number of people employed and the number of people unemployed?
a. about 29.5 million and 2.7 million. b. about 29.5 million and 1.7 million. c. about27.8millionand2.7million. d. about 27.8 million and 1.7 million

a. about 29.5 million and 2.7 million. b. about 29.5 million and 1.7 million. c. about27.8millionand2.7million. d. about 27.8 million and 1.7 million

Explanation / Answer

Option D.

Explanation:

Labor force participation rate was 63.5%. So, the size of the labor force is 63.5% of the population = 63.5% of 46.5 million = 63.5/100 * 46.5 million = (2952.75/100) million = 29.53 million.

The unemployment rate was 5.8 percent. So, total unemployed = 5.8% of labor force = 5.8% 29.53 million = 5.8/100 * 29.53 = 171.27/100 million = 1.71 million

So, number of unemployed is 1.71 million. Labor force (employed + unemployed) = 29.53 million.So, total employed = Labor force - unemployed = 29.53 - 1.71 = 27.82 million

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