Which of the following represents the unemployment rate?
Show answer & explanation
Correct answer: B
Explanation
The correct answer is option 2 i.e. The number of people unemployed divided by the working population.
The unemployment rate represents the percentage of people in the labour force who are actively seeking work but are not employed. It is calculated by dividing the number of unemployed individuals by the total working population (labour force), which includes both the employed and those actively seeking employment. This indicator helps assess the health of the economy, reflecting job availability, economic activity, and overall workforce engagement in a given region or country.