To find the labor-force participation rate and the unemployment rate for the group, we need to understand the definitions of these rates.
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Labor-Force Participation Rate (LFPR) is calculated as follows: \[ \text{LFPR} = \frac{\text{Labor Force}}{\text{Eligible Population}} \times 100 \] where the Labor Force is the sum of employed and unemployed individuals.
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Unemployment Rate (UR) is calculated as follows: \[ \text{UR} = \frac{\text{Number of Unemployed}}{\text{Labor Force}} \times 100 \]
From the data provided:
- People with some college or an associate degree (eligible population) = 57.4 million
- Employed (E) = 36.3 million
- Unemployed (U) = 1.2 million
Calculating the Labor Force: \[ \text{Labor Force} = \text{Employed} + \text{Unemployed} = 36.3 \text{ million} + 1.2 \text{ million} = 37.5 \text{ million} \]
Calculating the Labor-Force Participation Rate (LFPR): \[ \text{LFPR} = \frac{37.5 \text{ million}}{57.4 \text{ million}} \times 100 \approx 65.3% \]
Calculating the Unemployment Rate (UR): \[ \text{UR} = \frac{1.2 \text{ million}}{37.5 \text{ million}} \times 100 \approx 3.2% \]
Final Rates:
- Labor-Force Participation Rate = 65.3%
- Unemployment Rate = 3.2%
So the correct answer is: a. 65.3% and 3.2%