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Mr. Weiss

Mr. Weiss. Calculating the Unemployment Rate – Section 3 – Module 12. The following formulas will be useful in answering the questions in this problem set: Labor force = number of employed + number of unemployed Unemployment rate = Number of Unemployed X 100 percent

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Mr. Weiss

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  1. Mr. Weiss Calculating the Unemployment Rate – Section 3 – Module 12 The following formulas will be useful in answering the questions in this problem set: Labor force = number of employed + number of unemployed Unemployment rate = Number of Unemployed X 100 percent Labor Force Labor force participation rate = Labor Force X 100 percent Adult Population Adult population 223 million; Employed 139 million Unemployed 8 million; Not in labor force 76 million

  2. Mr. Weiss Calculating the Unemployment Rate – Section 3 – Module 12 The following formulas will be useful in answering the questions in this problem set: Labor force = number of employed + number of unemployed Unemployment rate = Number of Unemployed X 100 percent Labor Force Labor force participation rate = Labor Force X 100 percent Adult Population Adult population 223 million; Employed 139 million Unemployed 8 million; Not in labor force 76 million • Questions: • Calculate the size of the labor force. • Calculate the unemployment rate. • Calculate the labor-force participation rate.

  3. Mr. Weiss Calculating the Unemployment Rate – Section 3 – Module 12 • Answers: • Labor Force = Number employed (139 million) + number of unemployed (8 million) = 147 million. • 2. Unemployment rate = Number of Unemployed (8 million) X 100 percent • Labor Force (147 million) • = 5.4% • 3. Labor force participation rate = Labor Force (147 million) X 100 percent • Adult Population (223 million) • = 65.9%

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