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The sum of the unemployment rate and the employment rate always equal 100 percent?


The sum of the unemployment rate and the employment rate always equal 100 percent?
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Answer #1

Labor force = Employed + Unemployed

Unemployment rate indicates percentage of labor force that is unemployed.

For example, if unemployment rate is 6% then this indicates that 6% of labor force is unemployed while 94% is employed. This indicates employment rate (the percentage of labor force that is employed indicates employment rate).

So, it can be seen that the sum of the unemployment rate and the employment rate always equal 100 percent.

Thus, the given statement is true or correct.

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