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How to Calculate Unemployment Rate
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How to Calculate Unemployment Rate

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What is the Unemployment Rate?

An unemployment rate is a statistic that calculates the percentage of a country’s or state’s population that is jobless during a certain period of time.

How is the Unemployment Rate Calculated?

How to Calculate Unemployment Rate

Labour Force – This is the number of people in a country who are able to work.

Example:

A country’s working population is estimated to be 6,500,000. A survey was done to find out the population of the unemployed and they found it to be 3,250,000.Calculate the unemployment rate.

How to Calculate Unemployment Rate
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