A country has 24 million people in the labor force and 21.5 million of them are employed. What is the unemployment rate in this country?

Question

Quizplus · Accepted Answer

Unemployment rate = (number of unemployed / labor force) x 100
Number of unemployed = Labor force - number of employed 
Number of unemployed = 24 million - 21.5 million = 2.5 million
Unemployment rate = (2.5 million / 24 million) x 100 = 10.4 percent

A Country Has 24 Million People in the Labor Force