Suppose the city of Calgary, Alberta has a population of 1 million, a labour force of 575 000, and employment is equal to 545 000. The unemployment rate in Calgary is approximately
A)3.0 percent.
B)5.2 percent.
C)5.5 percent.
D)54..5 percent.
E)57.5 percent.

Question

Quizplus · Accepted Answer

To calculate the unemployment rate, we divide the number of unemployed individuals (which is the labour force minus the number employed) by the labour force:

Unemployment rate = (575,000 - 545,000) / 575,000 = 5.22%

Therefore, the closest answer is B) 5.2 percent.

Suppose the City of Calgary, Alberta Has a Population of 1