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If the total population of an economy is 1,000 people, with 185 in the Under 16/Institutionalized group, 265 in the Not in Labor Force group,
If the total population of an economy is 1,000 people, with 185 in the Under 16/Institutionalized group, 265 in the Not in Labor Force group, 350 employed full-time, 145 employed part-time (of which, 55 are looking for a full-time position), then the unemployment rate in this economy is
10%.
5%.
15%.
20%.
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