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Use the table below to answer the question. Category Number of people (millions) Institutionalized 14 Full-time...

Use the table below to answer the question.

Category Number of
people
(millions)
Institutionalized 14
Full-time workers 103
Less than 16 years of age 40
Armed forces (noncivilian) 20
Part-time workers 27
Population 314
Looking for work 16

The unemployment rate is ____ ? (give your answer to two decimals):
    

Part 2   (2 points)

See Hint

If 4 million of those who are currently unemployed become discouraged workers, the unemployment rate will ______ ?

.

The unemployment rate is now _________ ?    (give your answer to two decimals).

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Homework Answers

Answer #1

First answer is 10.96 percent. Second answer is Fall/Decrease. Third answer is 8.45 percent.

Explanation: Unemployment rate is equal to unemployed people (but looking for work) divided by labor force, then multiplied by 100. Labor force consists of employed and unemployed (but looking for work) people. So in the first problem, 103 are full-time employed, 27 are part-time employed and 16 are unemployed (but looking for work). So labor force is 103+27+16 = 146. So unemployment rate = 16/146 multiplied by 100 = 10.96 percent. In the second problem, unemployed population falls to 16-4 = 12. And thus labor force also falls to 146-4=142. So unemployment rate is 12/142 multiplied by 100 = 8.45. Thus unemployment rate falls

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