Question

In Hockeytown, USA, the adult population (over the age of 16) is 307 thousand and the number of people in the labor force is 157.6 thousand. There are 136.9 thousand people employed. The unemployment rate in Hockeytown is _______ percent. Round your answer to one digit to the right of the decimal

Answer 1

Total population of Hockeytown: 307 thousand

Labor force: 157.6 thousand

Employed people: 139.9 thousand

It is importante to remember that the unemployment rate is defined as the percentage of unemployed workers in the total labor force.

To find the number of unemployed workers, we have to subtract the employed people from the labor force:

157,600 - 139,900 = 17,700 people without work.

Now for the rate:

17,700/157,600 = 0,1123 =11%

So, the unemployment rate is 11%.