Indian Economy

Current GK (IBPS-PO)

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Indian Economy - Understanding the basics of Indian economic system

Consider the following statements about Unemployment rate:

1. The unemployment rate is calculated by expressing the number of unemployed persons as a percentage of the total number of persons in economy.

2. Unemployment is more in the rural areas as compared to the urban areas.

Which of the statement/s given above is/are correct?

1 only

2 only

Both 1 and 2

None of these

Answer: (4)

The unemployment rate is calculated by expressing the number of unemployed persons as a percentage of the total number of persons in the labour force.
Unemployment is more in the urban areas as compared to the rural areas.