Question

A survey reveals that on a small island initially 40 adults have jobs, 10 other adults are looking for jobs, and 30 are neither working nor looking for work. suppose that 10 of the 30 people who weren't looking for work now begin looking for work. there are now 20 people looking for work and 40 people working. what happens to the unemployment rate

Answer 1

Ok so to find the unemployment rate u have to know the formula unemployed=unemployed/labor force. Labor force are the people working plus the people who are seeking. So in this problem the labor force is 60 (since 40 working+20seeking=60) and the unemployed are 20 since 30-10=20 so 20/60=1/3 so the unemployment rate is 33.3%