The table below shows the percent of the labor force that is unemployed and the

Question

The table below shows the percent of the labor force that is unemployed and the size of the labor force for three counties in northwest Ohio. Jon Elsas is the Regional Director of Economic Development. He must present a report to several companies that are considering locating in northwest Ohio Size of Percent County Unemployed Workforce 4.5 15,300 Wood 3.0 10,400 Ottawa 10.2 Lucas 150,600 What would be an appropriate unemployment rate to show for the entire region? (Round your answer to 2 decimal places.) Unemployment rate

Explanation / Answer

Unemployment rate = Total number of unemployed / Total size of workforce

= (0.045*15300 + 0.03*10400 + 0.102*150600) / (15300+10400+150600)

= 9.28 % (Answer)

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