If the population older than 16 years of age equals 150 million,the labour force equals 110 million,and the total number of persons employed equals 98 million,then what is the unemployment rate?
A)8 percent
B)10.9 percent
C)28 percent
D)38 percent

Question

Quizplus · Accepted Answer

The unemployment rate can be calculated as follows:

Unemployment Rate = (Number of Unemployed / Labour Force) x 100

Number of Unemployed = Labour Force - Number Employed

Number of Unemployed = 110 million - 98 million

Number of Unemployed = 12 million

Therefore,

Unemployment Rate = (12 million / 110 million) x 100

Unemployment Rate = 10.9%

So, the best choice is B, which represents the correct answer of 10.9% unemployment rate.

If the Population Older Than 16 Years of Age Equals