Question

After the financial crisis that hits the country of Cinfuria in 2012, a total of 4 4 million people are unemployed. If 25 25 million individuals are lucky enough to keep their jobs, what is the unemployment rate

Answer 1

13.79%

Step-by-step explanation:

The formula to compute the unemployment rate is shown below:

Unemployment rate = (Number of Unemployed workers) ÷ (Total labor force) × 100

where,

Number of unemployed workers is 4 million people

And, the total labor force is

= 25 million + 4 million

= 29 million

So, the unemployment rate is

= (4 million people) ÷ (29 million people) × 100

= 13.79%