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A survey reveals that, on a small island, initially 1,000 people have jobs, 200 people are unemployed but are looking for jobs, and 200 people are neither working nor looking for work. Suppose that 100 of the 200 people who weren't looking for work now begin looking for work and that half of the new entrants find a job. The unemployment rate:

Respuesta :

Answer:

the unemployment rate is 23.07%

Explanation:

Given data:

Number of people having a job  = 1000

Number of people that unemployed 200

we know that,

Unemployment rate [tex]= \frac{number\ of\ unemployed\ people}{labor\ force}[/tex]

where,

labor force = employed+unemployed

SO, LABOR FORCE = 1000 + 200 = 1200

Unemployment rate before [tex]= \frac{unemployed}{labor force}[/tex]

                                             [tex] = \frac{200}{1200} = 0.166 = 16.66[/tex] %

Unemployment rate after 100 out of 200 people joins the labor force

so we have [tex]= \frac{300}{1300} = 0.2307 = 23.07[/tex] %

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