In a given community, the unemployment rate is 9% and their working-age population is 5.5 Million in December of 2009. Labor force participation was 81% in this community in December of 2009. In January 2010, this community takes in 190,000 refugees, 155,000 of which are working-age adults. All working-age refugees will be looking for a job in January and if they cannot find one will continue to look until they do. 65% of the working-age refugees start a new job in January. Assuming nothing no other changes to the labor force and unemployment, what will be the Unemployment rate in this community on February 1st?

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Question Based on the statistics on the Labor Force Participation Rate Unemployment Rate and the wor... View the full answer