13.3percent. Unemployment Rate: the proportion of unemployed people in the labor force as a whole.
We are aware that the number of jobless people equals the labor force minus the number of those who are employed.
150 million - 130 million people are unemployed.
Number of jobless people = 20 million
Therefore, the unemployment rate is calculated as follows: Unemployment rate = (20 million / 150 million) * 100.
13.3% is the unemployment rate.
The population of people over the age of 16 who are working or looking for new chances in the economy is referred to as the labor force in economics. As a result, both working and jobless workers are included. Number of employed people/Population in the working age range multiplied by 100 equals the percentage of employed people.
Unemployment rate as a proportion of the working-age population multiplied by 100.
Total number of unemployed people divided by the total number of people working
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