Suppose there are 100 million in the labor force, and 6 million unemployed people. During the next month, 200,000 people lose their jobs and 300,000 find jobs. The new total of employed persons is
__________and the new unemployment rate is__________ .
A) 93.9 million; 6.1 percent
B) 100 million; 6.1 percent
C) 100.1 million; 5.8 percent
D) 94.1 million; 5.9 percent

Question

Quizplus · Accepted Answer

We can start by calculating the new number of unemployed individuals. 
New Unemployed = Old Unemployed + Newly Unemployed - Newly Employed 
New Unemployed = 6 million + 200,000 - 300,000 
New Unemployed = 5.9 million

Next, we can calculate the new number of employed individuals. 
New Employed = Old Employed + Newly Employed - Newly Unemployed 
New Employed = 100 million + 300,000 - 200,000 
New Employed = 100.1 million

Finally, we can calculate the new unemployment rate. 
Unemployment Rate = (New Unemployed / Labor Force) x 100% 
Unemployment Rate = (5.9 million / 100 million) x 100% 
Unemployment Rate = 5.9%

Therefore, the answer is choice D: 94.1 million; 5.9 percent.

Suppose There Are 100 Million in the Labor Force, and 6