ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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unemployed persons divided by number of employed persons
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persons in the labour force divided by the number of unemployed
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unemployed persons divided by the size of the labour force
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employed persons divided by number of unemployed persons
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Detailed explanation-1: -The civilian labour force, as mentioned in the formula, consists of both employed and unemployed people. This completes the topic on the Unemployment Rate formula, which plays an important role in determining the unemployment rate in an economy.
Detailed explanation-2: -The unemployment rate represents the number of unemployed people as a percentage of the labor force (the labor force is the sum of the employed and unemployed). The unemployment rate is calculated as: (Unemployed ÷ Labor Force) x 100.
Detailed explanation-3: -Unemployment Rate: the number of unemployed divided by the labor force, expressed as a percentage.
Detailed explanation-4: -Unemployment rate – the percentage of people in the labour force that are unemployed. Participation rate – the percentage of people in the working-age population that are in the labour force.
Detailed explanation-5: -Percentage of employed individuals = Number of people working / Working-age population x 100. Total percentage of unemployed = Unemployed individuals / Working-age population x 100. Unemployment rate = Total number unemployed / Total number in labor force x 100. 13-Jan-2021