What percentage of the world's population has migrated to work in different countries?

Prepare for the HSC Economics Exam with comprehensive study materials, including flashcards and multiple choice questions. Each question offers hints and detailed explanations to boost your confidence and help you ace your exam!

The correct answer is 3% because global migration trends indicate that about 3% of the world’s population is living and working outside their country of origin. This figure reflects various factors, such as economic opportunities, conflicts, educational prospects, and family reunifications that drive individuals to seek employment in foreign nations.

Understanding this statistic is crucial as it highlights the significance of international migration in the global labor market and the interconnectedness of economies. It also emphasizes the diverse motivations behind migration, which can impact labor supply and demand in various regions.

Other percentage options do not accurately reflect the current estimates of global migration. For example, claiming that 1% significantly underestimates the number of people that migrate for work, while suggesting 5% or 10% overstates the scale of global labor migration. The 3% figure is based on comprehensive studies and international migration reports, making it the most reliable choice in this context.

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