Question

The population of Kazakhstan is 175 million and the labor force is 100 million. There are 15 million unemployed Kazakhstanis, 85 million employed, and 12 million adults that do not have a job and are not currently looking for one. What is the unemployment rate?

Answer 1

“The unemployment rate is 15%”.

Step-by-step explanation:

Unemployment rate is defined as the percentage of persons who are not working currently in the civilian labor force, but are in the search of jobs. When we talk about civilian labor force, it includes people “16 years” or “older” who are searching for jobs or working and looking for jobs.

`\text { Unemployment Rate }=\left(\frac{\text { Unemployed }}{\text { Labor Force }} \mathrm{x} 100\right) \%`

Here, Labor force = 100 million

And Unemployed = 15 million

So,
`\text { Unemployment rate }=\left(\frac{15 \text { million }}{100 \text { million }} * 100\right) \%`

Unemployment rate = 15%.