Answer:
unemployment rate= 0.1027 = 10.27%
Explanation:
Giving the following information:
Labor force= 156.7 million
Employed population = 140.6 million
To calculate the unemployment rate, we need to use the following formula:
unemployment rate= unemployed population / labor force
unemployment rate= (156,700,000 - 140,600,000) / 156,700,000
unemployment rate= 16,100,000 / 156,700,000
unemployment rate= 0.1027 = 10.27%
