The unemployment problem in an economy may be understated by the unemployment rate due to option(b)i.e, discouraged workers.
The OECD defines unemployment as those over a certain age who are currently available for work but are not currently employed or self-employed. The number of jobless persons as a percentage of the labor force is used to calculate the unemployment rate, which is used to calculate the level of unemployment.
The percentage of the labor force that is employed that is unemployed is known as the unemployment rate (the labor force is the sum of the employed and unemployed). (Unemployed Labor Force) x 100 equals the unemployment rate.
The unemployment rate is regarded as one of the most significant economic indicators, despite the fact that no one figure can fully represent all the intricacies in the state of the labor market. The rate of unemployment gauges the proportion of workers in the
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The complete question is:
The unemployment problem in an economy may be understated by the unemployment rate due to
A- people lying about seeking a job.
B- discouraged workers.
C- job candidates with one offer but waiting for more.
D- over-employed workers.
E- none of the answers listed.