Question

F there are 3 million discouraged workers, 2.4 million marginally attached workers, the labor force is currently 102.5 million, and the unemployment rate is 5.2%, how many people are unemployed in this country?

A. 5.2 million
B. 5.33 million
C. 8.33 million
D. 10.73 million

Answer 1

To find the number of unemployed people in the country, subtract the number of employed people from the labor force.

Step-by-step explanation:

To find the number of unemployed people in the country, we need to first calculate the total number of people who are not working but are part of the labor force. This includes both the discouraged workers and the marginally attached workers.

Adding the number of discouraged workers (3 million) and the number of marginally attached workers (2.4 million) gives us a total of 5.4 million people who are not working but are part of the labor force.

Next, we subtract this number from the total labor force (102.5 million) to find the number of employed people:

102.5 million - 5.4 million = 97.1 million employed people.

Finally, to calculate the number of unemployed people, we subtract the number of employed people from the labor force:

102.5 million - 97.1 million = 5.4 million unemployed people.