The unemployment rate is the percentage of people in the labor force who are unemployed, calculated as ... ... which is 3.5 percent. Unemployed Labor force Calculation Unemployment rate Reset 5.7 million 164.5 million 5.7 164.5 x 100 3.5 percent 0 Labor force (164.5 million) 50 150 Unemployed (5.7 million) Young military (69.9 million) Not in labor force (95.1 million) 1 1 L 200 250 300 350 Population (millions)

ENGR.ECONOMIC ANALYSIS
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ISBN:9780190931919
Author:NEWNAN
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Chapter1: Making Economics Decisions
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If the nubmer of unemployed workers doubled to 11.6 million and the labor forcoe didn't change. what would the unemployment rate be? ____ percent? Screenshot attached thanks

The unemployment rate is
the percentage of people in
the labor force who are
unemployed, calculated as ...
... which is 3.5 percent.
Unemployed
Labor force
Calculation
Unemployment rate
Reset
5.7 million
164.5 million
5.7
164.5
x 100
3.5 percent
0
Working-age population
Labor force
(164.5 million)
50
100
L
150
Unemployed
(5.7 million)
1
200
Young, military &
institutionalized
(69.9 million)
Not in
labor force
(95.1 million)
L
250 300 350
Population (millions)
Transcribed Image Text:The unemployment rate is the percentage of people in the labor force who are unemployed, calculated as ... ... which is 3.5 percent. Unemployed Labor force Calculation Unemployment rate Reset 5.7 million 164.5 million 5.7 164.5 x 100 3.5 percent 0 Working-age population Labor force (164.5 million) 50 100 L 150 Unemployed (5.7 million) 1 200 Young, military & institutionalized (69.9 million) Not in labor force (95.1 million) L 250 300 350 Population (millions)
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