The unemployment rate equals
A) (labor force/working age population) × 100.
B) (number of people employed/number of people age 16 and over) × 100.
C) (number of people employed/working age population) × 100.
D) (number of people unemployed/labor force) × 100.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of people who are unemployed (meaning they do not have a job but are actively seeking employment) divided by the labor force (which includes both employed and unemployed individuals who are seeking work) multiplied by 100 to convert to a percentage. Therefore, the formula is (number of people unemployed/labor force) × 100.

The Unemployment Rate Equals