Question

question 1 (2 points) listen based on the information in the table below, calculate the unemployment rate: total adult population over the age of 16 83 million total in the labor force 63 million total employed 60 million total unemployed 3 million total out of the labor force 20 million 3.61% 75.9% 4.76% 31.7%

Explanation:

Step1: Recall the formula for unemployment rate

The formula for the unemployment rate is $\frac{\text{Unemployed}}{\text{Labor Force}}\times100\%$.

Step2: Substitute the values

We are given that the number of unemployed is $3$ million and the labor force is $63$ million. Substituting these values into the formula, we get $\frac{3}{63}\times100\%$.

Step3: Calculate the value

$\frac{3}{63}\times100\%=\frac{1}{21}\times100\%\approx 4.76\%$

Answer:

4.76%