Unemployment Question Please Help!?

Dear Sir

I hope you can help. My colleague and I are looking at some statistics and would like some assistance please. If the US noninstitutional adult population is 230 million and the labor force pariticpation rate is 67% what is the size of the labor force and if 85 million adults are not working what is the unemploment rate?

Unemployment Question Please Help!?yes loans

This is a familiar looking question, so you will get a familiar looking answer:

1) What is 67% of 230,000,000?

2) This is trickier because non-participants in the labor force are not unemployed. They are just not working.

2A) Subtract the answer to 1 from 230,000,000 to find the number not in the labor force.

2B) Subtract the answer to 2A from the 85,000,000 adults not working to find the total number unemployed.

2C) What percentage of the answer to 1 is the answer to 2B?

1) 230,000,000 x 0.67 = 154,100,000 in the labor force.

2A) 230,000,000 - 154,100,000 = 75,900,000 not in the labor force.

2B) 85,000,000 - 75,900,000 = 9,100,000 unemployed.

2C) 9,100,000 / 154,100,000 = 0.059 or 5.9%

That is an enonomically viable number.

Unemployment Question Please Help!?

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Size of labor force = (67 / 100) * 230,000,000

= 154,100,000

Unemployment Rate = (85,000,000 / 230,000,000) * 100

= 36.96 %