A nation has a population of 260 million people.Of these, 60 million are retired, in the military, institutionalized, or under 16 years old.There are 188 million who are employed and 12 million who are unemployed.What is the unemployment rate?

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed divided by the labor force (employed + unemployed). Here, the labor force is 188 million employed + 12 million unemployed = 200 million. The unemployment rate is (12 million / 200 million) * 100 = 6 percent.

A Nation Has a Population of 260 Million People