Question

use the table to answer the question.
total population 2000
total population over 16 years of age 1800
total labor force 1500
total employment 1000
the table above gives the population and employment numbers for a hypothetical country. what is the unemployment rate in this country? round your answer to the nearest whole percent if necessary.
(1 point)
17%
33%
67%
83%

Explanation:

Step1: Calculate the number of unemployed people

The formula for the number of unemployed people is \(Unemployed = Labor\ Force - Employed\).
Given \(Labor\ Force = 1500\) and \(Employed = 1000\), then \(Unemployed=1500 - 1000=500\).

Step2: Calculate the unemployment rate

The formula for the unemployment rate is \(Unemployment\ Rate=\frac{Unemployed}{Labor\ Force}\times100\%\).
Substitute \(Unemployed = 500\) and \(Labor\ Force = 1500\) into the formula: \(Unemployment\ Rate=\frac{500}{1500}\times100\%=\frac{1}{3}\times100\%\approx33.33\%\)

Answer:

33%