The table describes hypothetical employment statistics for a country in a given year. Full-time workers and voluntary part-time workers 156 million Labor force 168 million Involuntary part-time workers Discouraged workers 2 million Based on the information, what is the unemployment rate? Enter your answer as percentage rounded to one decimal place. 4 million

Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter21: Unemployment
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Problem 34CTQ: Is the higher unemployment rates for minority workers necessarily an indication of discrimination?...
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The table describes hypothetical employment statistics for a country in a given year.
Full-time workers and
voluntary part-time workers
156 million
Labor force
168 million
Involuntary part-time workers Discouraged workers
Based on the information, what is the unemployment rate?
Enter your answer as percentage rounded to one decimal
place.
4 million
2 million
%2
Transcribed Image Text:The table describes hypothetical employment statistics for a country in a given year. Full-time workers and voluntary part-time workers 156 million Labor force 168 million Involuntary part-time workers Discouraged workers Based on the information, what is the unemployment rate? Enter your answer as percentage rounded to one decimal place. 4 million 2 million %2
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The unemployment rate is the ratio of people who are of working age who are without work, nd have taken specific steps to find work to the total labour force in the economy.

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