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Category - Police Officer
The mayor of Garrettsville is looking at some startling statistics about his city. The eligible labor force in Garrettsville is 400,000 and of them currently, 100,000 people are unemployed. What is the unemployment rate, expressed as a percentage, in Garrettsville?
Answer - C - The unemployment rate in Hiramville is 25%.Key Takeaway: The unemployment rate can be found by dividing the number of unemployed people by the entire labor force. The resulting number should be expressed as a percentage (not a decimal). In this case, divide the unemployed (100,000) by the labor force (400,000) = .25 or 25%.