In a country with 20 million people aged 15 years and older,12 million in the labour force,and 11.4 million employed,what is the unemployment rate?
A) 3%.
B) 4%.
C) 5%.
D) 6%.
E) 7%.

Question

Quizplus · Accepted Answer

The unemployment rate can be calculated by dividing the number of unemployed individuals by the labor force and then multiplying by 100.

Number of unemployed individuals = 12 million - 11.4 million = 600,000

Labor force = 12 million

Unemployment rate = (600,000 / 12,000,000) x 100 = 5%

Therefore, the correct answer is C.

In a Country with 20 Million People Aged 15 Years