Assume a country  to have 1000 labour forcces, in which 100 people are unemployed and 900 people are employed. What is the unemployment rate of the country?

1. Break Down the Problem

To find the unemployment rate, we need to determine the number of unemployed individuals relative to the total labor force. The formula for the unemployment rate is:

$\text{Unemployment Rate} = \left( \frac{\text{Number of Unemployed}}{\text{Total Labor Force}} \right) \times 100$

2. Relevant Concepts

• Total Labor Force: Total number of employed and unemployed individuals.
• Number of Unemployed: Individuals who are willing to work but do not have a job.

3. Analysis and Detail

• Total Labor Force = 1000
• Number of Unemployed = 100

Now, we can plug these numbers into the unemployment rate formula:

$\text{Unemployment Rate} = \left( \frac{100}{1000} \right) \times 100$

4. Verify and Summarize

Calculating the fraction:

$\frac{100}{1000} = 0.1$ Then multiplying by 100 gives:

$0.1 \times 100 = 10\%$

Final Answer

The unemployment rate of the country is 10%.