Suppose the population is 300 million people, the labor force is 200 million people, the number of people employed is 185 million, and the workingminusage population is 170 million people. What is the unemployment rate?

7.5%

Explanation:

The formula to compute the unemployment rate is shown below:

Unemployment rate = (Number of Unemployed workers) : (Total labor force) * 100

where,

Number of people employed is 185 million

And, the labor force is 200 million

So in order to find out the unemployment rate, we subtract it by 1

= 1 - ($185 million : $200 million)

= 1 - 0.925 million

= 7.5%