If the labor force is 50 million and 48 million are employed then the unemployment rate is
A) 2%.
B) 4%.
C) 5%.
D) 52%.

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed individuals divided by the labor force, then multiplied by 100 to get a percentage. In this case, 2 million (50 million - 48 million) are unemployed. Therefore, the unemployment rate is (2 million / 50 million) * 100 = 4%.

If the Labor Force Is 50 Million and 48 Million