The following table contains statistics for the country of Gregorville in 2017, a country in which all must either attend school, be available for work, or be retired.

-Refer to the table above.What is the unemployment rate if 5,000 of those actively looking for a job find one?
A) 6.9 percent
B) 13.9 percent
C) 19.4 percent
D) 86.1 percent

Question

The following table contains statistics for the country of Gregorville in 2017, a country in which all must either attend school, be available for work, or be retired.
 
-Refer to the table above.What is the unemployment rate if 5,000 of those actively looking for a job find one?
A) 6.9 percent 
B) 13.9 percent 
C) 19.4 percent 
D) 86.1 percent

Quizplus · Accepted Answer

To find the unemployment rate, we need to divide the number of unemployed by the labor force (those who are either employed or actively seeking employment). Since 5,000 people who were previously unemployed have found a job, the number of unemployed decreased by 5,000. Therefore, the labor force would remain the same, and we can use the same values from the table to calculate the unemployment rate: (10,000/144,000) x 100 = 6.9 percent.

The Following Table Contains Statistics for the Country of Gregorville