Answer to Question #134296 in Macroeconomics for lesego

Question

Out of 20 million people in the population, 9 million people are in the labour force and 3 million are unemployed, therefore the unemployment rate is:
(1) 3 percent.
(2) 15 percent.
(3) 30 percent.
(4) 33,3 percent.

Answer 1

Unemployment Rate =$\frac{Unemployed People} {Total Labor Force} ×100$

Unemployment Rate =$=\frac{3}{9}×100 =33.33\%$

(4) 33.3 percent.