Question

If a nation has 120 million employed people and 15

million unemployed people, what is the unemployment rate?

Answer 1

The unemployment rate is calculated by dividing the number of unemployed persons by the total labor force and multiplying by 100. In this scenario, with 120 million employed and 15 million unemployed, the rate is 11.11%.

Step-by-step explanation:

To calculate the unemployment rate, we use the formula:

Unemployment Rate = (Number of Unemployed Persons / Labor Force) × 100

In the given scenario, the number of employed persons is 120 million and the number of unemployed persons is 15 million. So, the labor force is the sum of both employed and unemployed persons, which is 135 million (120 million + 15 million).

Now, we can calculate the unemployment rate:

Unemployment Rate = (15 million / 135 million) × 100

Unemployment Rate = 0.1111 × 100

Unemployment Rate = 11.11%

So, the unemployment rate for the nation is 11.11%.

Answer 2

Step 2. Multiply by 100 to obtain the rate.

Unemployment rate
=
7.7
159.2
Unemployment rate
=
0.0487
Unemployment rate
=
4.8
percent
Unemployment rate=
7.7
159.2
Unemployment rate=0.0487 Unemployment rate=4.8 percent