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%
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)
16th Edition
ISBN:9781305506756
Author:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Publisher:James D. Gwartney, Richard L. Stroup, Russell S. Sobel, David A. Macpherson
Chapter8: Economic Fluctuations, Unemployment, And Inflation
Section: Chapter Questions
Problem 7CQ
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Question
![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%](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F8d439052-ae3e-44f1-a5ba-ecf880e78b5d%2F7a3052f1-0d10-48ee-a0d6-1bc1dcaa3bc0%2Fbkvb2yb_processed.jpeg&w=3840&q=75)
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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