The Unemployment Rate Discussion Paper
Suppose the following data describe a nation’s population: Instructions: Round your responses to two decimal places. a. What is the unemployment rate in each year? Year 1: Year 2: b. Between Year 1 and Year 2 , I. the number of unemployed persons II. the unemployment rate The Unemployment Rate Discussion Paper
ORDER YOUR PAPER NOW
Step-by-step
Step 1/1
The unemployment rate can be calculated as
Unemployed / Labor force *100
The calculation is as follows –
- Explanation for step 1
Year 1
Unemployment rate = 4.5/65*100
= 6.92%
Year 2
Unemployment rate = 4/68*100
= 5.88%
Between year 1 and year 2
1 – The unemployed persons – Decreased
2 – the unemployment rate – Decreased
Final answer
Hence the unemployment rate in year 1 was 6.92% and in year 2 it was 5.88%. The unemployed people and unemployment rate , both have decreased The Unemployment Rate Discussion Paper