Answer:
Unemployment rate= 2.78%
Explanation:
Giving the following information:
40 million are in the labor force
36 million are employed
2 million are classified as unable to work
1 million are classified as unwilling to work
The unemployment rate is calculated using the population that is employed and the population actively looking for work.
Therefore:
active population= 40 - 2 - 1= 37
Employed= 36
Unemployment rate= unemployed people/ active population or labor force
Unemployment rate= (1,000,000/36,000,000)*100= 2.78%
