If the number of people employed is 240,000 and the labor force is 250,000, the unemployment rate is
A) 2.4%.
B) 2.9%.
C) 4.0%.
D) 4.7%.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people divided by the labor force, then multiplied by 100. In this case, there are 250,000 in the labor force and 240,000 are employed, so 10,000 are unemployed. The unemployment rate is (10,000 / 250,000) * 100 = 4.0%.

If the Number of People Employed Is 240,000 and the Labor