Question

section 4.4 data tables with percentages
objective 1 - interpret percentage points
objective 2 - use two - way tables
objective 1 - interpret percentage points
guided practice activity #8 - the employment situation november 2018
the bureau of labor statistics publishes a monthly employment situation report. for november
2018⁴ we have the following data:
summary table a. household data, seasonally adjusted
(numbers in thousands)

the following table gives unemployment rates by education level:

what was the unemployment rate for those with a high school diploma in november
2017?
what was the percent change in unemployment rate for those with a high school diploma
from november 2017 to november 2018?

Explanation:

Step1: Determine the unemployment rate for high - school diploma in November 2017

We know that the unemployment rate for high - school diploma in November 2018 is \(3.5\%\) and the 1 - year change (from November 2017 to November 2018) is \(- 0.8\) percentage points.
Let \(x\) be the unemployment rate in November 2017. Using the formula \(x+\text{1 - year change}= \text{unemployment rate in November 2018}\), we have \(x-0.8 = 3.5\).
Solving for \(x\): \(x=3.5 + 0.8\).

Step2: Calculate the percent change

The formula for percent change is \(\text{Percent change}=\frac{\text{New value}-\text{Old value}}{\text{Old value}}\times100\%\).
We found the old value (November 2017) \(x = 4.3\%\) and the new value (November 2018) is \(3.5\%\).
\(\text{Percent change}=\frac{3.5 - 4.3}{4.3}\times100\%=\frac{- 0.8}{4.3}\times100\%\approx - 18.6\%\)

Answer:

The unemployment rate for those with a high - school diploma in November 2017 was \(4.3\%\).
The percent change in unemployment rate for those with a high - school diploma from November 2017 to November 2018 is approximately \(-18.6\%\)