A country has a population of 326 million. There are 68 million persons under age 16. There are 156.5 million employed persons and 6.5 million unemployed persons. What is the unemployment rate? Round to the nearest whole percentage.

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 156.5 million + 6.5 million = 163 million. The unemployment rate is (6.5 million / 163 million) * 100 = 3.99%, which rounds to 4%.

A Country Has a Population of 326 Million