Which of the following correct defines Unemployment rate ........

Economic Affairs Employment related Issues

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Which of the following correct defines Unemployment rate?

Number of people not in job as a ratio of total population.

Number of people not in job as a ratio of labour force.

Number of people not in job but actively looking for job as a ratio of labour force.

Number of people not in job but actively looking for job as a ratio of total population

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Explanation:

Labor force (also called work force) is the total number of people employed or seeking employment in a country or region. Unemployment rate is the percent of the labor force that is without work. Unemployment rate = (Unemployed Workers / Total labor force) X 100