Labor and voluntary Underemployed Discouraged force workers workers part-workers 155 140 million 7 million 5 million million sed on the information, what is the unemployment rate? Specify your answer to one decimal place. employment rate:

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
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The table describes hypothetical employment statistics in the United States in a given year. The labor force is the sum of those
that are employed plus the unemployed.
Full-time workers
Labor
Underemployed Discouraged
and voluntary
force
workers
workers
part-workers
155
140 million
7 million
5 million
million
Based on the information, what is the unemployment rate? Specify your answer to one decimal place.
unemployment rate:
Transcribed Image Text:The table describes hypothetical employment statistics in the United States in a given year. The labor force is the sum of those that are employed plus the unemployed. Full-time workers Labor Underemployed Discouraged and voluntary force workers workers part-workers 155 140 million 7 million 5 million million Based on the information, what is the unemployment rate? Specify your answer to one decimal place. unemployment rate:
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