In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Italian adult non- institutionalized population was 51.070 million, the labor force was 24.710 million, and the number of people employed was 22.765 million. According to these numbers, the Italian labor-force participation rate and unemployment rate were about
A) 48.4% and 7.9%.
B) 48.4% and 3.8%.
C) 44.6% and 7.9%
D) 44.6% and 3.8%

Question

Quizplus · Accepted Answer

The labor-force participation rate is calculated as (Labor Force / Adult Population) * 100 = (24.710 million / 51.070 million) * 100 ≈ 48.4%. The unemployment rate is calculated as ((Labor Force - Employed) / Labor Force) * 100 = ((24.710 million - 22.765 million) / 24.710 million) * 100 ≈ 7.9%.

In 2009, Based on Concepts Similar to Those Used to Estimate