Given:
Total population = 200 million
Labor force = 100 million
Employed workers = 92 million
To be considered unemployed, the person should be
(a) over 16 years of age,
(b) not working,
(c) was available for work within 4 weeks,
(d) made an effort to find work within 4 weeks.
Unemployed = 200 - 100 - 92 = 8 million
By definition,
Unemployment rate = Unemployed / (Employed + Unemployed)
= 8/(100 + 8)
= 0.074
= 7.4%
Answer: 7.4%
