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If the number of unemployed workers is 19 million, the number in the working-age population is 500 million, and the unemployment rate is 4%, how many workers are in the labor force?

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Answer:

Therefore, we conclude that 480 millions workers are in the labor force.

Explanation:

We know that the number in the working-age population is 500 million, and the unemployment rate is 4%.

We calculate how many workers are in the labor force.

We conclude that 100% - 4% = 96% workers are in the labor force.

We have the following proportion:


500:100\%=x:96\%\\\\100x=500\cdot 96\\\\x=(48000)/(100)\\\\x=480\\

Therefore, we conclude that 480 millions workers are in the labor force.

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