Q. With reference to the Unemployment, consider the following statements:
1.Unemployment refers to when someone is out of a job, is ready to work, and is actively seeking employment.
2.The unemployment rate is calculated by multiplying the number of unemployed people with the total labor force.
3.Unemployment rates are often lower in rural areas due to the nature of agrarian work, even if joblessness exists..
Which of the statements given above are correct?
Answer: C
Notes:
Explanation –
Statements 1 and 3 are correct. Unemployment refers to when someone is out of a job, is ready to work, and is actively seeking employment. Unemployment rates are often lower in rural areas due to the nature of agrarian work, even if joblessness exists.
Statement 2 is incorrect. Unemployment is often measured using the unemployment rate, which is calculated as the number of unemployed individuals divided by the labor force, expressed as a percentage.
Source: ForumIAS
