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ycow [4]
3 years ago
7

If the total population is 200 million, the labor force is 100 million, and 92 million workers are employed, then the unemployme

nt rate would be
Business
1 answer:
Gekata [30.6K]3 years ago
4 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%
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