Suppose there are 2,613 people in the labor force. 265 workers are employed full time but were
Question:
Suppose there are 2,613 people in the labor force. 265 workers are employed full time but were unemployed last month. Additionally, 91 workers had jobs last month but were laid off and have not found work yet. 87 workers lack skills that employers desire and have not been working for months; they are looking for jobs, though. 80 people are not working due to an overall decline in the economy and 74 workers are not working during this season. 72 workers quit their job and have not found a new one yet. Finally, 447 workers are working part time but would like full time work.
Based on this information, calculate the current unemployment rate. Hint: All unemployed workers are looking for work. There are no discouraged workers in this example. Answer this as a percentage and round your answer to two digits after the decimal without the percentage sign. ex. If you found the rate to be 5.125%, answer 5.13.
International Marketing And Export Management
ISBN: 9781292016924
8th Edition
Authors: Gerald Albaum , Alexander Josiassen , Edwin Duerr