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A nation has a population of 260 million people There are 188 million who are employed and 12 million who are unemployed. What is the unemployed rate?
Wiki User
∙ 14y ago
The "Unemployed" rate would be 12 million / 260 million = 12/260 = 4.6 %.
In fact the unemployed rate does not use the whole population as a denominator, but a smaller value. The part of the population that, for whatever reason, is currently unemployable - such as children, retired people, terminally ill people - are excluded from the equation.
Wiki User
∙ 14y ago
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