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 persons over age 16 in the population equals 40 million, the unemployment rate equals ________.

Answer 1

Answer:

unemployment rate   =  25%

Explanation:

we know according to U.S. Bureau of Labor Statistics is

1 ) no of peoples in the labor force

This measure the sum of  employed and the unemployed

and

2) National unemployment rate

this statistic reflect number of unemployed peoples as percentage of the labor force

so that

Labor force = 24 + 8 = 32

and

so that unemployment rate = 8 × $\frac{100}{32}$

unemployment rate   =  25%