Question

The Bureau of Labor Statistics reported in 2005 that there were 53.23 million people over age 25 who had at least a bachelor's degree, 40.59 million of whom were employed and 0.98 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?

1.76.3% and 1.8%
2.76.3% and 2.4%
3.78.1% and 1.8%
4.78.1% and 2.4%

Answer 1

Answer: 76.3% and 2.4%

Step-by-step explanation:

Labour force=40590000

Workingagepopulation=53230000

1. Labour Force Participation rate = Labour force / working age population *100

= 40590000/53230000 * 100

= 76.3%

2. Unemployment Rate

Unemployed = 980000

Employed = 40590000

= Unemployed/employed *100

= 980000/40590000 *100

= 2.4%