Question

If the number of people classified as unemployed is 50,000 and the number of people classified as employed is 250,000, what is the unemployment rate?

Answer 1

Based on the given values above, it is said that there are 50,000 people who are unemployed and 250,000 are employed. This means that the total number of people basing on these numbers is 300,000. So we just have to divide 50,000 by 300,000 and we get 0.17. Therefore, the unemployment rate is 17%. Hope this helps.

Answer 2

16.17 percent is the answer on gradpoint