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%.