The Bureau of Labor Statistics announced that in January 2013, of all adult Americans, 143,322,000 were employed, 12,332,000 were unemployed, and 89,008,000 were not in the labor force. Use this information to calculate: a. the adult population b. the labor force c. the labor-force participation rate d. the unemployment rate

a. 244,662,000

b. 155,654,000

c. 63.62%

d. 7.92%

Explanation:

a. the adult population

Adult population = Number of employed + Number of unemployed + Number of people not included in labor force

= 143,322,000 + 12,332,000 + 89,008,000

= 244,662,000

b. the labor force

Labor force = Number of employed + Number of unemployed

= 143,322,000 + 12,332,000

= 155,654,000

c. the labor-force participation rate

Labor-force participation rate = Labor force ÷ Adult population × 100

= 155,654,000 ÷ 244,662,000 × 100

= 63.62%

d. the unemployment rate

Unemployment rate = Number of unemployed ÷ Labor force × 100

= 12,332,000 ÷ 155,654,000 × 100

= 7.92%

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