The rate of unemployment is found by dividing the:
A) number of people looking for work by the population.
B) number of people not working but looking for work by the sum of the number of people not working but looking for work and the number of people employed.
C) labour force by the number of people looking for work.
D) unemployed and discouraged workers by the labour force.

Question

Quizplus · Accepted Answer

The rate of unemployment is calculated by dividing the number of people not working but actively seeking employment by the sum of that number and the number of people who are employed. This formula is commonly known as the unemployment rate formula, and it is a widely used measure of economic health in many countries. Choice B is the only option that correctly identifies this formula.

The Rate of Unemployment Is Found by Dividing The