Question

if the population of a country is 250000 people its labor force consists of 145000 people are unemployed, 10,000 are unable to work and 5000 are unwilling to work the unemployment rate is

Answer 1

Unemployment Rate = Number of Unemployed/Labour Force

Labour Force = Total Population- People Unwilling To Work - People unable to work

= 250,000 - 10,000 - 5,000

= 235,000

Therefore unemployment rate= 145000/235000

= 0.617 or 61.7%