In 2004,based on concepts similar to those used to estimate U.S.employment figures,the Italian adult non-institutionalized population was 45.020 million,the labor force was 24.065 million,and the number of people employed was 22.105 million.According to these numbers,the Italian labor-force participation rate and unemployment rate were about
A)45.1%, 8.1%
B)45.1%, 4.4%
C)53.5%, 8.1%
D)53.5%, 4.4%

Question

Quizplus · Accepted Answer

The labor-force participation rate can be calculated by dividing the labor force by the adult non-institutionalized population, which gives 24.065/45.02=0.535 or 53.5%. The unemployment rate can be calculated by subtracting the number of people employed from the labor force and dividing the result by the labor force, which gives (24.065-22.105)/24.065=0.081 or 8.1%. Therefore, the correct choice is C.

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