The Bureau of Labor Statistics reported in 2005 that there were 59.98 million people over age 25 whose highest level of education was a high school degree or equivalent, 36.40 million of whom were employed and 1.93 million of whom were unemployed. What were the labor-force participation rate and the unemployment rate for this group?
A) 60.7% and 3.2%
B) 60.7% and 5.0%
C) 63.9% and 3.2%
D) 63.9% and 5.0%

Question

Quizplus · Accepted Answer

The labor-force participation rate is calculated as (employed + unemployed) / total population, which is (36.40 + 1.93) / 59.98 = 63.9%. The unemployment rate is calculated as unemployed / (employed + unemployed), which is 1.93 / (36.40 + 1.93) = 5.0%.

The Bureau of Labor Statistics Reported in 2005 That There