Answer to Question #135994 in Macroeconomics for Lutholwethu

Question

Out of 20 million people in the population ,9 million people are in the labour force and 3 million people are unemployed ,therefore the unemployment rate is:

Answer 1

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

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

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