The BLS survey reported the numbers in the table for a small community of 200 pe
ID: 3027572 • Letter: T
Question
The BLS survey reported the numbers in the table for a small community of 200 people.
Calculate the unemployment rate and the labor force participation rate in this community.
Category
Number
Worked at least 1 hour as paid employees
125
Were not working but had jobs or businesses from which they were temporarily absent
10
Had no employment and didn't want to work
40
Were available for work and had looked for employment last week
5
Were available for work and were waiting to be recalled to their previous job
The unemployment rate is _______ percent.
>>> Answer to 1 decimal place.
6
Category
Number
Worked at least 1 hour as paid employees
125
Were not working but had jobs or businesses from which they were temporarily absent
10
Had no employment and didn't want to work
40
Were available for work and had looked for employment last week
5
Were available for work and were waiting to be recalled to their previous job
The unemployment rate is _______ percent.
>>> Answer to 1 decimal place.
6
Explanation / Answer
Rate of Unemployment = No. of people unemployed / Labor force
= (40 + 5 + 6) / (125 + 10 + 40 + 5 + 6)*100 = 27.42%
Labor force participation rate = Labor force / working age population = (186 / 200)* 100 = 93%
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