ABC just announced the unemployment rate of California this past Sept. Was 4.5% with 20 million people in the labor force. But they fail to give the actual number unemployed what is it?
2007-03-20 09:55:08 · 2 answers · asked by Anonymous in Social Science ➔ Economics
i'm not sure, but you must also consider that 'unemployment rates' measure those who are recieving unemployment benefits; it does not take into account those that have been umemployed so long that they can no longer get the benefits, or those that were never eligible to recieve them, ONLY the ones CURRENTLY receiving unemployment benefits.
(if i was right as to how they use the numbers, 4.5% would be about 940,000 people.... but i could be wrong)
2007-03-20 10:04:50 · answer #1 · answered by Ember Halo 6 · 0⤊ 0⤋
The answer is 4.5% of 20 million. That's the definition of "unemployment rate" -- the percentage of the labor force who are unemployed.
And, to the previous response, calculation of unemployment rate has NOTHING to do with whether people are receiving benefits.
2007-03-20 21:15:09 · answer #2 · answered by KevinStud99 6 · 0⤊ 0⤋