If the labour force is 100 million, there are 95 million people employed, there are 98 million jobs that employers want occupied, then the unemployment rate is:

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people divided by the labor force, then multiplied by 100. In this case, there are 5 million unemployed people (100 million labor force - 95 million employed) out of a 100 million labor force, which gives an unemployment rate of 5% (5 million / 100 million * 100).

If the Labour Force Is 100 Million, There Are 95