The unemployment rate in a town in which 65,400 persons are employed and 11,000 are unemployed equals: 14.4%.
The unemployment rate is the term used to refer to the percentage of unemployed people out of the total labor but are in search of employment and are willing to work.
The formula used for calculation of unemployment rate is number of unemployed persons divided by the total labor force of a nation.
The labor force of a nation consist of both the unemployed as well as the employed people that is both who work as well as who do not have work.
Applying above formula, the unemployed rate equals 14.4%
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