There are ten people listed below. What is their labor force participation rate?
ID: 1202288 • Letter: T
Question
There are ten people listed below. What is their labor force participation rate? Heather is a stay at home mom and is not looking for work and does not receive an income Sam won the lottery and is not looking for work and does not have a job Claire has a swimming scholarship and is going to school full time and not looking for work Brenna has a job at Starbucks Lura has a job as a chef Jack works part time at a record store, while looking for a full time job Larry was recently fired, but is applying to new jobs Bill was fired a year ago and would like a job, but quit looking because he could not find one Ryan has a job as a Librarian Kumar has a job he is a doctor
In the previous question what is the unemployment rate of the ten people listed rounded to the nearest whole percent
Explanation / Answer
* The labor force participation rate is 70 percent.
* The unemployment rate of the ten people is 30 percent.
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