Question

Of the 500000 people (age 16+) in a particular country 300000 people are in the labor force. of the 240000 are employed and 60000 are unemployed what is the unempoyment rate

Answer 1

Answer:

12%

Step-by-step explanation:

60000 people are unemployed, out of 500000 people.

That means that 60000/500000 of the population is unemployed.

Simplify: 60000/500000 = 6/50 = 0.12 = 12%