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5 December, 15:07

A nation has a population of 260 million people. Of these, 60 million are retired, in the military, in institutions, or under 16 years old. There are 188 million who are employed and 12 million who are unemployed. What is the unemployment rate

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  1. 5 December, 18:20
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    Answer: 6%

    Explanation:

    Total population = 260 million.

    Dependent population = 60 million

    Employed population = 188 million

    Unemployed population = 12 million

    Total Labour Force = employed population + unemployed population

    = 188 million + 12 million

    = 200 million

    Therefore total labor force = 200 million

    Unemployment rate = unemployed people / Total Labour Force*100

    = 12 million/200 million*100

    =0.06 * 100

    =6%

    Unemployment rate = 6%
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