Ask Question
19 August, 10:56

In an economy, the working-age population is 300 million. Of this total, 240 million workers are employed. 9 million workers are unemployed. 42 million workers are not available for work (homemakers, full-time students, etc.). 6 million workers are available for work but are discouraged and thus are not seeking work. 3 million workers are available for work but are not currently seeking work due to transportation or childcare problems.

The unemployment rate in this economy is: ...

+2
Answers (1)
  1. 19 August, 11:01
    0
    Answer: 3.61% unemployment rate

    Explanation:

    Only those workers currently employed and unemployed make the workforce; discouraged workers, unavailable workers, or students are not considered part of the workforce.

    To calculate unemployment rate, divide unemployed peoples by the total number of people in the workforce:

    9 / 249 = 3.61% unemployment rate
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “In an economy, the working-age population is 300 million. Of this total, 240 million workers are employed. 9 million workers are ...” 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