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The number of people employed in one country is 230 million, with a total number of unemployed people at 40 million. The total population for the country is 500 million. What is the unemployment rate?
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15 votes
The number of people employed in one country is 230 million, with a total number of unemployed people at 40 million. The total population for the country is 500 million. What is the unemployment rate? Group of answer choices

User Danijar
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1 Answer

23 votes
23 votes

Answer:

Unemployment rate = 14.81 %

Step-by-step explanation:

Unemployment is defined as the number of people that are willing and able to work in an economy but that are not able to get employment.

If is used as a measure of the level of economic growth of a country.

Mathematically:

Unemployment rate = (Unemployed) รท (Economically active people) *100

Economically active people are employed plus unemployed.

That is 230 million + 40 million = 270 million

Therefore

Unemployment rate = (40/270) * 100

Unemployment rate = 14.81 %

User Sundaram Ravi
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