Question : The unemployment rate is calculated as the percentage of:
Option 1: Unemployed individuals in the working-age population
Option 2: Employed individuals in the working-age population
Option 3: Unemployed individuals in the total population
Option 4: Employed individuals in the total population
Correct Answer: Unemployed individuals in the working-age population
Solution : The correct answer is (a) Unemployed individuals in the working-age population
The unemployment rate is calculated as the percentage of unemployed individuals in the working-age population. It is a commonly used measure to assess the level of unemployment in an economy.
To calculate the unemployment rate, the number of unemployed individuals is divided by the total number of people in the working-age population and multiplied by 100 to express it as a percentage.
The unemployment rate provides insights into the labor market dynamics, the proportion of the workforce that is unable to find employment, and the overall health of the economy in terms of job opportunities. It is an important indicator used by policymakers, economists, and researchers to monitor and analyze unemployment trends.
Related Questions
Trending Articles/News
