In 2009, based on concepts similar to those used to estimate U.S. employment figures, the Swedish adult non- institutionalized population was 7.568 million, the labor force was 4.888 million, and the number of people employed was 4.486 million. According to these numbers, the Swedish labor-force participation rate and unemployment rate were about
A) 64.6% and 8.2%.
B) 64.6% and 5.3%.
C) 59.3% and 8.2%.
D) 59.3% and 5.3%.

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 4.888 million / 7.568 million * 100 = 64.6%. The unemployment rate is the percentage of the labor force that is unemployed. In this case, the unemployment rate is (4.888 million - 4.486 million) / 4.888 million * 100 = 8.2%.

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