Question : The formula to find the unemployment rate is_____.
Option 1: (Unemployed male workers/Total labour force) × 1000
Option 2: (Unemployed workers/Total labour force) × 100
Option 3: (Employed workers/Total labour force) × 100
Option 4: ( Employed workers/Male labour force ) × 100
Correct Answer: (Unemployed workers/Total labour force) × 100
Solution : The correct answer is (Unemployed workers/Total labour force) × 100 .
In this formula:
- "Number of Unemployed" refers to the total number of people who are unemployed and actively seeking employment.
- "Labor Force" is the total number of employed and unemployed individuals in the workforce.
The unemployment rate is expressed as a percentage, and it provides a measure of the proportion of the labour force that is unemployed.
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