Question

the overall population for region a is 110 million people. the labor force contains 40 million people, 26 million people are employed, and 14 million are unemployed. what is the unemployment rate? round your answer to two decimals. %

Explanation:

Step1: Recall the formula for unemployment rate

The formula for the unemployment rate is $\frac{\text{Number of unemployed}}{\text{Labor force}} \times 100$.

Step2: Substitute the given values into the formula

Here, the number of unemployed is $14$ million and the labor force is $40$ million. So, the unemployment rate is $\frac{14}{40}\times 100$.

Step3: Calculate the value

$\frac{14}{40}\times 100=\frac{1400}{40} = 35.00$

Answer:

$35.00$