Jonia's population of 500,000 includes 95,000 children below age 16, 80,000 retirees, 20,000 discouraged workers, 228,000 employed persons, and 12,000 unemployed persons. What is the unemployment rate of Jonia?

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed persons divided by the labor force (employed + unemployed), then multiplied by 100. The labor force is 228,000 (employed) + 12,000 (unemployed) = 240,000. The unemployment rate is (12,000 / 240,000) * 100 = 5.0%.

Jonia's Population of 500,000 Includes 95,000 Children Below Age 16