Question

Which of the following is the formula for calculating the unemployment rate?

(employed – unemployed) ÷ labor force × 100

(labor force – employed) ÷ labor force × 100

unemployment ÷ population × 100

(employed – labor force) ÷ employed × 100

Answer 1

(employed – unemployed) ÷ labor force × 100

Answer 2

Answer:

Remember that the unemployed are those who are out of work and who are actively looking for a job. We can calculate the unemployment rate by dividing the number of unemployed people by the total number in the labor force, then multiplying by 100.

Out of the labor force: 94.4 million (37.2%)

In the labor force: 159.1 million (62.8%)

Explanation:

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