The number of a country's unemployed workers decreased from 5.3 million to 3.9 million last year. if the country's population remained constant at 75 million, how did its unemployment rate change last year?

Question

Business

Jessie Diaz

30 January, 15:37

The number of a country's unemployed workers decreased from 5.3 million to 3.9 million last year. if the country's population remained constant at 75 million, how did its unemployment rate change last year?

+3

Answers (2)

Know the Answer?

Lauren Lane · Answer 1

unemployment decreased about 2%.

Explanation:

A P E X

Georgia Harmon · Answer 2

Unemployment rate is the percentage of people from total labor force who are actively seeking for job and not able to find it.

Formula to calculate unemployment rate:

Unemployment rate = (Number of unemployed/Labor force) * 100

Unemployment rate when number of unemployed were 5.3 million

= (5300000/75000000) * 100

= 7.07%

Unemployment rate when number of unemployed were 3.9 million

= (3900000/75000000) * 100

= 5.2%

Unemployment decreased from 7.07% to 5.2%.