Question

A.

Total Population
Employed
Not working but actively seeking
Not working and not actively seeking
235,000,000
41,000,000
9,000,000
21,000,000
Using the data from the table above, calculate the following for the United States: MUST SHOW WORK!
i. Labor Force:
ii. Labor force participation rate:_
iii. Unemployment Rate:_

Answer 1

The labor force is 50,000,000, the labor force participation rate is 21.3%, and the unemployment rate is 18%.

Step-by-step explanation:

The labor force can be calculated by adding the number of employed and unemployed individuals. In this case, the labor force is 41,000,000 (employed) + 9,000,000 (unemployed) = 50,000,000.

The labor force participation rate can be calculated by dividing the labor force by the total population and multiplying by 100. In this case, the labor force participation rate is (50,000,000 / 235,000,000) x 100 = 21.3%.

The unemployment rate can be calculated by dividing the number of unemployed individuals by the labor force and multiplying by 100. In this case, the unemployment rate is (9,000,000 / 50,000,000) x 100 = 18%.