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Chapter 21: Q. 2 (page 523)

Using the above data, what is the unemployment rate? These data are U.S. statistics from 2010. How does it compare to the February 2015 unemployment rate computed earlier?

Short Answer

Expert verified

9.617%

Step by step solution

01

Step1. Introduction

Unemployment rate calculation refers to the proportion of people who are unemployed out of the total labor force of the country.

02

Step2. Calculation

Unemployment rate-

14.8/153.9 * 100

=9.617%


US unemployment rate in 2015- 5.28%

Clearly, calculated 9.617% is fairly high than 5.28%.

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