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If in a population of 1000 people, 400 people are in the labour force, 392 are employed, what is the unemployment rate?
  • a)
    2%
  • b)
    8%
  • c)
    6%
  • d)
    4%
Correct answer is option 'A'. Can you explain this answer?
Most Upvoted Answer
If in a population of 1000 people, 400 people are in the labour force,...
Unemployment rate = Umeployed people /labour force ×100. Unemployed people=8 , Labour force=400 Put value in formula = 8/400 × 100 = 2 %
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If in a population of 1000 people, 400 people are in the labour force,...
Calculation of Unemployment Rate:
Unemployment Rate is calculated by dividing the number of unemployed individuals by the total number of people in the labour force and then multiplying by 100.

Given Data:
- Total Population = 1000
- Labour Force = 400
- Employed = 392

Calculating Unemployment:
Unemployed = Labour Force - Employed
Unemployed = 400 - 392
Unemployed = 8

Calculating Unemployment Rate:
Unemployment Rate = (Unemployed / Labour Force) x 100
Unemployment Rate = (8 / 400) x 100
Unemployment Rate = 2%
Therefore, the unemployment rate in the given population of 1000 people is 2%.
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If in a population of 1000 people, 400 people are in the labour force, 392 are employed, what is the unemployment rate?a)2%b)8%c)6%d)4%Correct answer is option 'A'. Can you explain this answer?
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