The unemployment rate can be calculated by subtracting the total employment (500) from the total labor force (600), and then dividing by the total labor force:
(600-500)/600 = 0.16666666666...
Converting this to a percentage and rounding to the nearest whole percent, we get:
16.7%
So the answer is (rounded to the nearest whole percent):
b) 17%
Use the table to answer the question.
Total Population 1,000
Total Population Over 16 Years of Age 800
Total Labor Force 600
Total Employment 500
The table above gives population and employment numbers for a hypothetical country. What is the unemployment rate in this country? Round your answer to the nearest whole percent if necessary.
a
83%
b
17%
c
20%
d
10%
1 answer
1 answer