Answer to Question #189808 in Macroeconomics for Sameer

Question

In 2017-18, the Pakistan Bureau of Statistics announced that of all adult Pakistanis, 59,786,200 were employed, 3,613,800 were unemployed, and 58,800,000 were not in the labor force. Use this information to calculate the unemployment rate

Answer 1

Employment rate refers to the percentage of the labor force that is jobless.

Unemployment Rate (U) = Number of persons unemployed/Labor force

$U=3,613,800/[59,786,200+3,613,800]$$*100$

$U=3,613,800/63,400,000$$*100$

$U=$ $5.7$%

The unemployment rate is 5.7% in 2017-2018 in Pakistan.