Calculate the unemployment rate for Batesburg-Leesville, SC. The population of Batesburg-Leesville, SC is 5,377 with 2,572 people employed and 245 people unemployed.

Unemployment rate of Batesburg-Leesville, SC. =8.71%

Explanation:

Total population= 5,377

Total unemployed=245

Total employed=2,572

Total labour force=employed people + unemployed people

Total labour force=2,572+245

=2,817

Unemployment rate= Total unemployed people/Total labour force ×100

Unemployment rate= 245/2,817 × 100

=0.0871×100 (approximately)

=8.71%

answer makes less frequent trips to the bank and firms make less frequent price changes;