Total population=745,000
Working age population=550,000
Number employed=361,000
Number unrmployed=19,000
14) Using the above information, the employment rate is
A) 65.6 percent.
B) 48.5 percent.
. C) 95.0 percent
D) 69.1 percent.
The employment rate is the number of employed individuals divided by the working age population, multiplied by 100:
Employment rate = (Number employed / Working age population) x 100
Employment rate = (361,000 / 550,000) x 100
Employment rate = 65.6 percent
Therefore, the answer is A) 65.6 percent.
b. Using the above information, the unemployment rate X is
A) 2.6 percent.
B) 5.0 percent.
C) 3.5 percent.
D) 2.1 percent.
The unemployment rate is the number of unemployed individuals divided by the working age population, multiplied by 100:
Unemployment rate = (Number unemployed / Working age population) x 100
Unemployment rate = (19,000 / 550,000) x 100
Unemployment rate = 3.5 percent
Therefore, the answer is C) 3.5 percent.
c. Using the above information, the labor force is
A) 380,000.
B) 911,000.
C) 930,000.
D) 569,000.
The labor force is the sum of the number of employed and unemployed individuals:
Labor force = Number employed + Number unemployed
Labor force = 361,000 + 19,000
Labor force = 380,000
Therefore, the answer is A) 380,000.
d. Using the above information, the labor force participation rate is
A) 65.6 percent.
B) 73.8 percent.
C) 81.8 percent.
D) 69.1 percent.
The labor force participation rate is the labor force divided by the total population, multiplied by 100:
Labor force participation rate = (Labor force / Total population) x 100
Labor force participation rate = (380,000 / 745,000) x 100
Labor force participation rate = 51.0 percent
Therefore, none of the answer options are correct. The labor force participation rate is 51.0 percent.
I don't see any answer that is 51.0 percent.
I apologize for the mistake. You are correct, none of the answers provided match the labor force participation rate.
The labor force participation rate is the percentage of the working-age population who are either employed or unemployed (i.e. in the labor force).
Labor force participation rate = (Labor force / Working age population) x 100
Labor force participation rate = (361,000 + 19,000) / 550,000 x 100
Labor force participation rate = 67.1%
Therefore, D) 69.1 percent is the closest answer choice to the actual labor force participation rate of 67.1%.
To calculate the employment rate, we need to divide the number of employed individuals by the total working age population and then multiply the result by 100 to get a percentage.
Given:
Total population = 745,000
Working age population = 550,000
Number employed = 361,000
Employment rate = (Number employed / Working age population) * 100
Employment rate = (361,000 / 550,000) * 100
Employment rate = 0.656 * 100
Employment rate ≈ 65.6%
Therefore, the correct answer is A) 65.6 percent.