Question

What is the unemployment rate if there are 160 million people employed, 10 million people unemployed, and 20 million not in the labor force

Answer 1

7.14%

Step-by-step explanation:

With regards to the above, we can calculate the unemployment rate as!

= Unemployed people/labor force × 100

= 10,000,000 /140,000,000 × 100

= 7.14%