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Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?

a) 6.8%; higher than February 2015
b) 7.2%; lower than February 2015
c) 8.4%; higher than February 2015
d) 9.1%; lower than February 2015

User Nosajimiki
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Final answer:

The unemployment rate for U.S. statistics from 2010 was computed to be 9.6%, using the number of unemployed persons and the total labor force. This rate is higher than the unemployment rate of February 2015, which was 5.5%, indicating a decrease in unemployment over the five-year period.

Step-by-step explanation:

The unemployment rate is a critical indicator of the economic health of a country, reflecting the percentage of the labor force that is without employment but seeking employment. To compute the unemployment rate, we use the formula Number of Unemployed People / Labor Force x 100. Applying this formula to the provided data for the U.S. statistics from 2010, we find that the unemployment rate is 9.6% (14.8 million unemployed / 153.9 million labor force x 100). This rate is significantly higher than the February 2015 unemployment rate, which was earlier computed to be 5.5%.

It is important to monitor and compare unemployment rates over different periods to understand economic trends and the impact of economic policies. In this case, the difference indicates a noticeable decrease in unemployment over the five-year span between 2010 and 2015.

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User Peter Kim
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