The unemployment rate declined from 4.5 percent in March 2017 to 4.4 percent in April. The labor
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The unemployment rate declined from 4.5 percent in March 2017 to 4.4 percent in April. The labor force participation rate also declined from March to April, from 63.0 percent to 62.9 percent. If the labor force participation rate had remained unchanged from March to April, would the unemployment rate for April have been lower than, higher than, or equal to 4.4 percent? Briefly explain.
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The formula for the unemployment rate is Number of unemployedLabor force 100 ...View the full answer
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