Ask Question
9 September, 05:24

If the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, then the unemployment rate would be

+1
Answers (1)
  1. 9 September, 08:36
    0
    Given:

    Total population = 200 million

    Labor force = 100 million

    Employed workers = 92 million

    To be considered unemployed, the person should be

    (a) over 16 years of age,

    (b) not working,

    (c) was available for work within 4 weeks,

    (d) made an effort to find work within 4 weeks.

    Unemployed = 200 - 100 - 92 = 8 million

    By definition,

    Unemployment rate = Unemployed / (Employed + Unemployed)

    = 8 / (100 + 8)

    = 0.074

    = 7.4%

    Answer: 7.4%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, then the unemployment rate ...” in 📙 Business if there is no answer or all answers are wrong, use a search bar and try to find the answer among similar questions.
Search for Other Answers