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Assume adult males have a 47% share of the work force and their unemployment rate is 8
Assume adult males have a 47% share of the work force and their unemployment rate
is 8.6%, adult females have a share of 45% and their unemployment rate is 8.4%, and
teenagers have a share of 8% and their unemployment rate is 21%. Approximately what
is the overall unemployment rate?
Expert Solution
Assume,
Total workforce is 100 people
So,
Adult males= 100* 47%
= 47
Unemployment rate=47* 8.6%
= 4.04%
Adult Females= 100* 45%
= 45
Unemployment rate= 45* 8.4%
= 3.78%
Teenagers= 100* 8%
= 8
Unemployment rate= 8* 21%
= 1.68%
Total Unemployment rate= 4.04%+ 3.78%+ 1.68%
= 9.5%
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