Wariable Labour force participation rate (percentage) Working-age population Employment rate (percentage) Value 63.5 31,074,000 58.5 Jsing this information, calculate Canada's unemployment rate in March 2020. Round your answer to one decimal place O A. 7.7% O B. 7.9% OC. 8.2% O D. 8.1%

Macroeconomics: Private and Public Choice (MindTap Course List)
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Chapter8: Economic Fluctuations, Unemployment, And Inflation
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Statistics Canada reported the following data for March 2020:
Variable
Value
Labour force participation rate (percentage)
Working-age population
Employment rate (percentage)
63.5
31,074,000
58.5
Using this information, calculate Canada's unemployment rate in March 2020. Round your answer to one decimal place.
O A. 7.7%
O B. 7.9%
O C. 8.2%
O D. 8.1%
Transcribed Image Text:Statistics Canada reported the following data for March 2020: Variable Value Labour force participation rate (percentage) Working-age population Employment rate (percentage) 63.5 31,074,000 58.5 Using this information, calculate Canada's unemployment rate in March 2020. Round your answer to one decimal place. O A. 7.7% O B. 7.9% O C. 8.2% O D. 8.1%
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