If the number of people employed is 190 million and the number of people in the labor force is 200 million, then the unemployment rate is

Question

Quizplus · Accepted Answer

The unemployment rate is calculated as the number of unemployed people divided by the labor force, then multiplied by 100. Here, there are 10 million unemployed people (200 million in the labor force minus 190 million employed) out of a labor force of 200 million, which gives an unemployment rate of (10/200)*100 = 5%.

If the Number of People Employed Is 190 Million and the Number