In January 2015,the population of Australia was 23.7 million,the working-age population was 19.2 million,the total number of people employed and unemployed was 12.5 million,and the total number of unemployed people was 0.8 million.What is the unemployment rate?

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as (Number of Unemployed / Labor Force) * 100. The labor force is the sum of employed and unemployed people, which is 12.5 million. The unemployment rate is (0.8 million / 12.5 million) * 100 = 6.4%.

In January 2015,the Population of Australia Was 23