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SSC GD 2024 PYQ — Question 27

SSC GD Const (English) - 26 Feb 2024 - Shift 1 • General Awareness • Q27

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The unemployment rate is calculated as the ratio of

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Correct answer: B

Explanation

The correct answer is option 2 i.e. Unemployed workers to the labour force.

  • One important economic indicator that quantifies the percentage of jobless people in the labor force is the unemployment rate.
  • The number of unemployed workers is divided by the total labor force, which consists of both employed and unemployed people actively looking for work.
  • The unemployment rate is then expressed as a percentage by multiplying this ratio by 100, which offers information about the state of the labor market.