In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Canadian adult non-institutionalized population was 25.022 million,the labor force was 16.956 million,and the number of people employed was 15.864 million.According to these numbers,the Canadian labor-force participation rate and unemployment rate were about
A)67.8% and 6.4%
B)67.8% and 4.4%
C)63.4% and 6.4%
D)63.4% and 4.4%

Question

Quizplus · Accepted Answer

The labor-force participation rate is the percentage of the adult non-institutionalized population that is in the labor force. In this case, the labor-force participation rate is 16.956 million / 25.022 million * 100 = 67.8%. The unemployment rate is the percentage of the labor force that is unemployed. In this case, the unemployment rate is (16.956 million - 15.864 million) / 16.956 million * 100 = 6.4%.

In 2004,based on Concepts Similar to Those Used to Estimate