Answer:
2.8%
Explanation:
Unemployment is a situation in which qualified people who are willing and able to work could not get an appropriate job.
unemployment rate = [tex]\frac{number of unemployed people}{labor force}[/tex] x 100
number of unemployed people = labor force - number of employed
= (250.5 - 243.5) million
= 7 million
The number of unemployed people is 7 million.
So that,
unemployment rate = [tex]\frac{7000000}{250500000}[/tex] x 100
= 0.02794 x 100
= 2.8%
Therefore, the unemployment rate is 2.8%
