Suppose the population is 250 million people, the labor force is 150 million people, the number of people employed is 130 million and the working-age population is 200 million people. What is the unemployment rate?

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people divided by the labor force. In this case, the number of unemployed people is 150 million - 130 million = 20 million. The labor force is 150 million. So, the unemployment rate is 20 million / 150 million = 13.3 percent.

Suppose the Population Is 250 Million People, the Labor Force