Answer:
4%
Step-by-step explanation:
The unemployment rate is calculated by dividing the number of unemployed(2 million) by the labor force (50million) and multiplying the result by 100.
Labor force is the total number of unemployed and employed persons in a country. In this case, we have:
Labor force= No. of unemployed (in million) + No. of full time employed (in million) + No. of part time employed (in million) = 2 + 38 + 10 = 50 million
Unemployment rate= 2/50 × 100 = 4%
Therefore, the rate of unemployment is 4%.
