If the number of unemployed workers is 19 million, the number in the working-age population is 2) 500 million, and the unemployment rate is 4%, how many workers are in the labor force? A) 20 million B) 1 million C) 481 million D) 475 million E) None of the above

Question

Alexis Phelps

Business

13 September, 17:45

If the number of unemployed workers is 19 million, the number in the working-age population is 2) 500 million, and the unemployment rate is 4%, how many workers are in the labor force? A) 20 million B) 1 million C) 481 million D) 475 million E) None of the above

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Answers (1)

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Andres Pineda · Answer 1

D) 475 million

Explanation:

Unemployment is the people who is not currently working and searching for the job. These are the part of Labor force. So unemployment rate is as follows:

Unemployed Worker = 19 million

Unemployment rate = 4%

Unemployment rate = Unemployed worker / Labor force

4% = 19 million / Labor Force

Labor Force = 19 million / 4%

Labor Force = 475 million