If there are 100 million people in the total population, a labor force of 50 million, and 47 million employed workers, the unemployment rate is _____%.
A) 3
B) 6
C) 8
D) 10

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed individuals divided by the labor force, then multiplied by 100 to get a percentage. In this case, there are 50 million in the labor force and 47 million employed, leaving 3 million unemployed. Therefore, the unemployment rate is (3 million / 50 million) * 100 = 6%.

If There Are 100 Million People in the Total Population