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)

what was the total and percent change in the unemployment rate from november 2017 to
2018?

Explanation:

Step1: Calculate total change

The unemployment rate in November 2017 is \(4.1\) and in November 2018 is \(3.7\).
Total change \(=3.7 - 4.1=- 0.4\)

Step2: Calculate percent change

Percent change formula: \(\text{Percent change}=\frac{\text{New value}-\text{Old value}}{\text{Old value}}\times100\%\)
Substitute values: \(\text{Percent change}=\frac{3.7 - 4.1}{4.1}\times100\%=\frac{-0.4}{4.1}\times100\%\approx - 9.76\%\)

Answer:

The total change in the unemployment rate is \(-0.4\) percentage points. The percent change in the unemployment rate is approximately \(-9.76\%\)