Question

Suppose that New Zombie has adopted the framework used by the US Bureau of Labor Statistics to calculate its labor force statistics. Calculate the unemployment rate and the labor force of New Zombie.

A. Unemployment Rate: 9.1%, Labor Force: 18,253,466
B. Unemployment Rate: 7.3%, Labor Force: 21,647,007
C. Unemployment Rate: 10.2%, Labor Force: 22,530,376
D. Unemployment Rate: 12.5%, Labor Force: 20,234,021

Answer 1

The unemployment rate in New Zombie is 7.3% and the labor force is 21,647,007.

Step-by-step explanation:

To calculate the unemployment rate and labor force of New Zombie, we need to use the formula used by the US Bureau of Labor Statistics. The formula for calculating the unemployment rate is to divide the number of unemployed people by the total labor force and multiply by 100 to get the percentage. To calculate the labor force, we divide the number of people in the labor force by the total adult (working-age) population.

Using the information given in the answer options, the correct answer is option B. The unemployment rate is 7.3% and the labor force is 21,647,007.