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

Question

Quizplus · Accepted Answer

The vacancy rate is calculated as the number of job vacancies divided by the sum of the number of employed and the number of job vacancies, all multiplied by 100%.

Vacancy rate = (number of job vacancies / (number of employed + number of job vacancies)) x 100%

In this case,

number of employed = 95 million 
number of job vacancies = 98 million

Vacancy rate = (98 / (95 + 98)) x 100% = 50% x 100% = 3.1%

Therefore, the correct answer is (C) 3.1%.

If the Labour Force Is 100 Million, There Are 95