In 2016 the Bureau of Labor Statistics reported that there were 71.9 million people over age 25 who had at least a bachelor's degree.Of these 52.1 million were employed and 1.3 million were unemployed.What were the labor-force participation rate and the unemployment rate for this group?
A)72.5% and 1.8%
B)72.5% and 2.4%
C)74.3% and 1.8%
D)74.3% and 2.4%

Question

Quizplus · Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total with a degree = (52.1 + 1.3) / 71.9 = 74.3%. The unemployment rate is unemployed / (employed + unemployed) = 1.3 / (52.1 + 1.3) = 2.4%.

In 2016 the Bureau of Labor Statistics Reported That There