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The overall population for Region A is 105 million people. The labor force contains 47 million people, 35 million people are employed, and 12 million are unemployed. What is the unemployment rate? Round your answer to two decimals.

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Answer:

Unemployment rate= 25.532%

Explanation:

Unemployed is defined as the number of people that are not working and are actively looking for a job. Unemployment is when people above a particular age are not in paid employment and not self-employed, but are actively looking for work.

Unemployment rate is calculated as Unemployed divided by total labour force multiplied by 100.

Unemployment rate= (Unemployed/Total labour force)* 100

Unemployment rate= (12/47)*100

Unemployment rate= 25.532%

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