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Unemployed rate

This topic has 2 expert replies and 1 member reply
Amrabdelnaby Master | Next Rank: 500 Posts Default Avatar
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Unemployed rate

Post Mon Nov 30, 2015 11:42 am
Elapsed Time: 00:00
  • Lap #[LAPCOUNT] ([LAPTIME])
    In Country C, the unemployment rate among construction workers dropped from 16% on September 1, 1992 to 9% on September 1, 1996. If the number of construction workers was 20% greater on September 1, 1996, then on September 1, 1992, what was the approximate percent change in the number if unemployed construction workers over this period?

    A) 50% decrease
    B) 30% decrease
    C) 15% decrease
    D) 30% increase
    E) 55% increase

    Please help!

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    Post Mon Nov 30, 2015 11:45 am

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    Post Tue Dec 01, 2015 4:32 pm
    Hi Amrabdelnaby,

    This question can be solved by TESTing VALUES. You'll need to reorganize the information that you're given though (since it's offered 'out of order').

    We're told that the NUMBER of construction workers was 20% greater in 1996 than in 1992.

    Number of workers in '92 = 100
    Number of workers in '96 = 120

    We're told that the UNEMPLOYMENT RATE was 16% in 1992 and 9% in 1996. This allows us to figure out the NUMBER of unemployed workers...

    Unemployed in '92 = 100(16%) = 16
    Unemployed in '96 = 120(9%) = 10.8

    The question asks for the APPROXIMATE Percent Change in the number of unemployed workers...

    Percent Change = (New - Old)/Old = Difference/Original

    With these numbers, we end up with...

    (10.8 - 16)/16 = -5.2/16 = about -1/3 = about a 30% decrease

    Final Answer: B

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    Post Tue Dec 01, 2015 9:51 pm
    Amrabdelnaby wrote:
    In Country C, the unemployment rate among construction workers dropped from 16% on September 1, 1992 to 9% on September 1, 1996. If the number of construction workers was 20% greater on September 1, 1996, then on September 1, 1992, what was the approximate percent change in the number if unemployed construction workers over this period?

    A) 50% decrease
    B) 30% decrease
    C) 15% decrease
    D) 30% increase
    E) 55% increase

    Please help!
    Let total worker on September 1, 1992 = 100

    then, total worker on September 1, 1996 = 100+20 = 120

    Unemployed people on September 1, 1992 = 16% of 100 = 16
    Unemployed people on September 1, 1996 = 9% of 120 = 10.8

    % change = (10.8-16)*100/16 = -32.5% (Decrease)

    Answer: Option B

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