Question

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?

Answer 1

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.