Ask Question
14 June, 13:48

A nation has a population of 300 million people. Of these, 80 million are retired, in the military, in institutions, or under sixteen years old. There are 210 million who are employed and 10 million who are unemployed. What is the unemployment rate?

+1
Answers (1)
  1. 14 June, 14:07
    0
    Unemployment rate = 4.55%

    Explanation:

    We know,

    Unemployment rate = Number of unemployed people in a country : Total labor force.

    Given,

    Number of unemployed people in a country = 10 million

    Labor force = Number of unemployed people in a country + Number of employed people in a country

    Therefore, Labor force = 10 million + 210 million = 220 million

    Putting the values into the above formula, we can get,

    Unemployment rate = (10 million : 220 million) * 100

    Unemployment rate = 0.04545 * 100

    Unemployment rate = 4.55%
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “A nation has a population of 300 million people. Of these, 80 million are retired, in the military, in institutions, or under sixteen years ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers