Ask Question
7 July, 08:12

Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people. How many million people are unemployed?

+5
Answers (1)
  1. 7 July, 08:28
    0
    20,000,000 = unemployed people

    Explanation:

    Giving the following information:

    Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the working-age population is 500 million people.

    The unemployment rate is the number of people of working age, disposed to work and looking for a job.

    Labor force rate = unemployed people / labor force

    0.05 = unemployed people / 400,000,000

    400,000,000*0.05 = unemployed people

    20,000,000 = unemployed people
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “Suppose the current unemployment rate is 5%, the labor force is 400 million people, the labor force participation rate is 80% and the ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers