Answer:
The unemployment rate is 9%
Explanation:
First it is important to know that the total labor force consists of individuals who are employed and unemployed.
The type of persons that are not included in the labor force are the Students, homemakers, retirees and discouraged workers.
The ones that are included are the employed full time, part time workes, the persons out of work and the ones actively looking for work
The Total labor force then is = employed full time + employed part time + out of work and actively looking for work
Total labor force = 122 million + 30 million + 15 million
Total labor force = 167 million
To calculate then the unemployment rate you have to use the following equation:
unemployment rate= unemployed
total labor force
unemployment rate= 15 million
167 million
unemployment rate= 9%
