To calculate the unemployment rate, you can use the following formula:
\[ \text{Unemployment Rate} = \left( \frac{\text{Number of Unemployed}}{\text{Total Labor Force}} \right) \times 100 \]
The total labor force is the sum of the number of employed and unemployed individuals.
Given:
- Number of unemployed = 50,000
- Number of employed = 250,000
First, calculate the total labor force:
\[ \text{Total Labor Force} = \text{Number of Employed} + \text{Number of Unemployed} = 250,000 + 50,000 = 300,000 \]
Now, apply the formula for the unemployment rate:
\[ \text{Unemployment Rate} = \left( \frac{50,000}{300,000} \right) \times 100 = \left( \frac{1}{6} \right) \times 100 \approx 16.67% \]
However, the closest option provided to \( \frac{1}{6} \) is:
16.17 percent.
So the unemployment rate is approximately 16.17 percent.