In 2016 the Bureau of Labor Statistics reported that there were 23.5 million people over age 25 who had no high school degree or its equivalent.Of these 9.7 million were employed and .75 million were unemployed.What were the labor-force participation rate and the unemployment rate for this group?
A)41.3% and 3.2%
B)41.3% and 7.2%
C)44.5% and 3.2%
D)44.5% and 7.2%

Question

Quizplus · Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total population, which is (9.7 + 0.75) / 23.5 = 44.5%. The unemployment rate is calculated as unemployed / (employed + unemployed), which is 0.75 / (9.7 + 0.75) = 7.2%.

In 2016 the Bureau of Labor Statistics Reported That There