Suppose there are 70 million people in the labor force, out of which 60 million are employed, then the unemployment rate is?

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19-08-2022
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Suppose there are 70 million people in the labor force, out of which 60 million are employed, then the unemployment rate is?

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sakshigupta4990 sakshigupta4990 · Answer 1 · 2022-08-24T09:40:55+02:00

Suppose there are 70 million people in the labor force, out of which 60 million are employed, then the unemployment rate is: 14.28%.

An unemployed person is someone who does not have a job but is actively looking for one. Employed or Not Employed? You are employed part-time. If you work as a student, the university cafeteria is employed.

Labor force participation rate = (labor force/working age population) x 100 where labor force = employment + unemployment. To solve this problem, we need to know the number of people employed, the number of job seekers, and the working age population.

Learn more about the labor force at

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