To calculate the unemployment rate, which of the following are necessary pieces of information?
I. the number of unemployed persons
II. the population
III. the number of people in the labor force
IV. the working age population
A) I, II III and IV
B) I and II
C) I and III
D) I and IV

Question

Quizplus · Accepted Answer

The unemployment rate is calculated by dividing the number of unemployed persons (I) by the number of people in the labor force (III) and then multiplying by 100. The total population and the working age population are not directly used in this calculation.

To Calculate the Unemployment Rate, Which of the Following Are