Question

Unemployment Rate = 6.5%
Labor Force = 40,000
Based on the information above, solve for the total number of employed people in this society.

Question 4 options:

a)	Employment = 260

b)	Employment = 2,600

c)	Employment = 40,000

d)	Employment = 42,600

e)	None of the above

Answer 1

Unemployment rate = (Number of unemployed / Labor force) x 100

6.5 = (Number of unemployed / 40000) x 100

6.5/100= (Number of unemployed / 40000)

0.065= (Number of unemployed / 40000)

Number of unemployed = 0.065 x 40000= 2600

Labour force= Number of unemployed people + Number of employed people

40000 = 2600+Number of employed people

Number of employed people= 40000-2600= 37400

Total Number of employed people in the society is 37400

Option e) none of the above is the correct option for number of employed people in the society.