Which of the following is the formula for calculating the unemployment rate

Unemployment / population x 100

(labor force - employed) / labor force x 100

(employed - labor force) / employed x 100

(employed - unemployed) / labor force x 100

( / = divided by)

Option B.

Explanation:

Unemployment is the situation in which people above eligible work age and who are available to work, have no form of paid employment, or are not self employed.

Therefore, in order to calculate unemployment rate, it must be noted that unemployed people are those who are out of work and actively looking for a job.

We can calculate the unemployment rate by first; dividing the number of unemployed people by the total number in the labor force, and then multiplying by 100.

Unemployment rate = unemployed people/total labour force X 100

This is the same as option B above.