The BLS reported that in December 2015, the labor force was 157.8 million, employment was 149.9 million,
Question:
The BLS reported that in December 2015, the labor force was 157.8 million, employment was 149.9 million, and the working-age population was 252.0 million.
1. Calculate the unemployment rate and the labor force participation rate.
2. The BLS also reported that 18.3 percent of all employment in December 2015 was part time and that 6.0 million people worked part time for economic reasons. How many people worked part time for noneconomic reasons?
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1 The unemployment rate is 50 percent The labor force equals employment plus unemploy...View the full answer
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