Ask Question
25 March, 23:48

If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of persons over age 16 in the population equals 40 million, the unemployment rate equals:

+3
Answers (1)
  1. 26 March, 02:03
    0
    Unemployment rate is 25%

    Explanation:

    The percentage of people eligible for job and not currently involved in paid work or self employed and available for work as well is called rate of unemployment. It is the percentage of people who is not currently woking seeking the job.

    Labor Force = Employed persons + Unemployed persons

    Labor Force = 24 million + 8 million

    Labor Force = 32 million

    Unemployment rate = (Unemployed persons / Labor force) x 100

    Unemployment rate = (8 million / 32 million) x 100 = 25%
Know the Answer?
Not Sure About the Answer?
Get an answer to your question ✅ “If the number of employed persons in a country equals 24 million, the number of unemployed persons equals 8 million, and the number of ...” 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