In 2016 the Bureau of Labor Statistics reported that there were 57.1 million people over age 25 whose highest level of education was some college or an associate degree.Of these,36.4 million were employed and 1.5 million were unemployed.What were the labor-force participation rate and the unemployment rate for this group?
A)66.4% and 2.6%
B)66.4% and 4.0%
C)63.7% and 2.6%
D)63.7% and 4.0%

Question

Quizplus · Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total population, which is (36.4 million + 1.5 million) / 57.1 million = 66.4%. The unemployment rate is calculated as unemployed / (employed + unemployed), which is 1.5 million / (36.4 million + 1.5 million) = 4.0%.

In 2016 the Bureau of Labor Statistics Reported That There