The utility industry had 639.5 thousand jobs in 2010 and is expected to decline at an average rate of 2.6 thousand jobs per year from 2010 to 2020. Assuming this holds true, what will be the utility’s percent change from 2010 to 2020



Answer :

The utility’s percent change from 2010 to 2020 is a decrease of 4.07%

How many years are between 2010 and 2020?

There are 10 years in between 2010 and the year 2020, which means that the total decline over a period of 10 years is the annual decrease multiplied by 10.

Total decrease in 10 years=2.6*10

Total decrease in 10 years=26.0

Utility industry jobs in 2020=639.5-26.0

Utility industry jobs in 2020=613.5

The percentage change 2010-2020=(2020 jobs/2010 jobs)-1

The percentage change 2010-2020=(613.5/639.5)-1

The percentage change 2010-2020=-4.07%

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