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Imagine the labor force of the United States numbers 157 million persons. There are 8 million jobless persons actively looking for work. There are 6 million involuntary part-time workers. There are 600,000 jobless persons not looking for work because they believe no jobs are available to them.Given these conditions, what is the official unemployment rate in the United States

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Answer: = 5.10%

Explanation:

The unemployment rate includes only those who do not have a job but are actively searching for one. People working part time are considered employed when calculating the unemployment rate.

In this case, only the 8 million jobless people looking for jobs will be classified as unemployed.

Unemployment rate = Number of unemployed / Number of people in labor force * 100%

= 8,000,000 / 157,000,000 * 100%

= 5.10%