Question

In an​ economy, the​ working-age population is 300 million. Of this​ total, 240 million workers are employed. 9 million workers are unemployed. 42 million workers are not available for work​ (homemakers, full-time​ students, etc.). 6 million workers are available for work but are discouraged and thus are not seeking work. 3 million workers are available for work but are not currently seeking work due to transportation or childcare problems.

The unemployment rate in this economy is:.....

Answer 1

Answer: 3.61% unemployment rate

Step-by-step explanation:

Only those workers currently employed and unemployed make the workforce; discouraged workers, unavailable workers, or students are not considered part of the workforce.

To calculate unemployment rate, divide unemployed peoples by the total number of people in the workforce:

9 / 249 = 3.61% unemployment rate