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13 July, 18:14

A country has a non-institutionalized civilian adult population of 263 million. Out of that number: 85 million are students, homemakers, retirees, etc. 11 million are discouraged workers. 122 million are employed full-time. 30 million are employed part-time. 15 million are out of work and actively looking for work. What is the unemployment rate

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  1. 13 July, 18:29
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    The unemployment rate is 9%

    Explanation:

    First it is important to know that the total labor force consists of individuals who are employed and unemployed.

    The type of persons that are not included in the labor force are the Students, homemakers, retirees and discouraged workers.

    The ones that are included are the employed full time, part time workes, the persons out of work and the ones actively looking for work

    The Total labor force then is = employed full time + employed part time + out of work and actively looking for work

    Total labor force = 122 million + 30 million + 15 million

    Total labor force = 167 million

    To calculate then the unemployment rate you have to use the following equation:

    unemployment rate = unemployed

    total labor force

    unemployment rate = 15 million

    167 million

    unemployment rate = 9%
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