ECONOMICS
BUSINESS CYCLES
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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population / # of unemployed X 100
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# of unemployed / # in the civilian labor force X 100
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# in the civilian labor force / # of unemployed X 100
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None of the above
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Detailed explanation-1: -Both the unemployment rate, at 3.6 percent, and the number of unemployed persons, at 5.9 million, edged up in February. These measures have shown little net movement since early 2022. (See table A-1.) Among the major worker groups, the unemployment rate for Hispanics (5.3 percent) increased in February.
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).
Detailed explanation-3: -Unemployment Rate in the United States averaged 5.73 percent from 1948 until 2023, reaching an all time high of 14.70 percent in April of 2020 and a record low of 2.50 percent in May of 1953.
Detailed explanation-4: -India unemployment rate for 2021 was 5.98%, a 2.02% decline from 2020. India unemployment rate for 2020 was 8.00%, a 2.73% increase from 2019. India unemployment rate for 2019 was 5.27%, a 0.06% decline from 2018. India unemployment rate for 2018 was 5.33%, a 0.03% decline from 2017.