The employment rate can be calculated by dividing the total employed by the total labor force and multiplying by 100.
Employment rate = (Total employed / Total labor force) * 100
Employment rate = (1,000,000 / 1,500,000) * 100 = 66.67 %
Rounding to the nearest whole percent, the employment rate is approximately 67%.
Therefore, none of the given options (a, b, c, d) are correct.
Use the table to answer the question:
Total population/2,200,000
Total population over 16 yrs. of age/1,760,000
Total labor force/1,500,000
Total employed/1,000,000
Total unemployed/500,000
Calculate the employment rate for this fictional country. round your answer to the nearest whole percent if necessary.
a. 33%
b. 23%
c. 50%
d. 28%
1 answer
1 answer