In 2015, the Bureau of Labor Statistics (BLS) announced that of all adult Americans, 148,834,000 were employed, 8,296,000 were unemployed, and 93,671,000 were not in the labor force. What is the adult population? 250,801,000 148,834,000 8,296,000 157,130,000 The size of the labor force is, and the labor force participation rate is. What is the unemployment rate? 59.6% 5.3% 5.6% 3.3%

Instructions are listed below.

Explanation:

Giving the following information:

148,834,000 were employed, 8,296,000 were unemployed. 93,671,000 were not in the labor force.

Labor force = 8,296,000 + 148,834,000 = 157,130,000

Adul population = 157,130,000 + 93,671,000 = 250,801,000

Labor force participation rate = 157,130,000/250,801,000 = 62.65%

What is the unemployment rate?

Unemployment rate = unemployed people / labor force = 5.28% = 5.3%

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Explanation:

Total population is sum of employed people plus unemployed people plus people that are not in the labour force, or 148,834,000 + 8,296,000 + 93,671,000 = 250,801,000.

Total adult population is sum of employed people plus unemployed people (assuming that non-adults contribute 100% to those that are not in the labour force), or 148,834,000 + 8,296,000 = 157,130,000.

Total labour force is sum of employed people plus unemployed people, or 157,130,000.

Labor force participation rate is Employed people/Total labour force = 148,834,000/157,130,000 = 94.7%

Unemployment rate is Unemployed people/Total labour force = 8,296,000/157,130,000 = 5.3%