Question

if the number of employed, unemployed, discourage work seekers and inactive is 10 500 000, 2 500 000, 2 000 000, 5 000 000 respectively. calculate the unemployment rate.

Answer 1

To calculate the unemployment rate, we can use the following formula:

\[
\text{Unemployment Rate} = \frac{\text{Number of Unemployed}}{\text{Labor Force}} \times 100
\]

Where the Labor Force is defined as the sum of the number of employed and the number of unemployed.

Given the data:
- Number of Employed = 10,500,000
- Number of Unemployed = 2,500,000

First, we calculate the Labor Force:

\[
\text{Labor Force} = \text{Employed} + \text{Unemployed} = 10,500,000 + 2,500,000 = 13,000,000
\]

Now we can calculate the unemployment rate:

\[
\text{Unemployment Rate} = \frac{2,500,000}{13,000,000} \times 100
\]

\[
\text{Unemployment Rate} \approx 19.23\%
\]

Thus, the unemployment rate is approximately **19.23%**.