Question

If the population of a country is 1,000,000 people, its labor force consists of 500,000, and 40,000 people are unemployed, the unemployment rate is:

Answer 1

8.0 percent

Step-by-step explanation:

To find the unemployment rate you:

• Divide the number of people unemployed by the number of people in labor force (Employed and Unemployed)
• Then, multiply the number by 100

Hope this Helps