Suppose the population (age 16 and over) of Madagascar is 200 million; 9 million are unemployed, and 111 million hold jobs. Indicate the rate of unemployment and the employment/population ratio of Madagascar.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as (unemployed / labor force) * 100 = (9 million / (9 million + 111 million)) * 100 = 7.5%. The employment/population ratio is (employed / population) * 100 = (111 million / 200 million) * 100 = 55.5%.

Suppose the Population (Age 16 and Over) of Madagascar Is