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27 October, 20:20

Suppose the working-age population of country a is 200 million, the number employed is 130 million, and the number unemployed is 10 million. what is the labor force participation rate?

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  1. 27 October, 22:19
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    The formula for the labor force participation rate is

    labor force/adult population

    Adult population is referring to the overall population, in this case it would be the working-age population. So adult population = 200 million

    Labor force is referring to the total number employed (in the labor force). So labor force = 130 million

    The number unemployed does not play into this because it is just apart of the adult population that isn't in the labor force (we're given the specific labor force, so we don't need to calculate anything that has to do with the unemployment vs working-age).

    Now we have 130 million (labor force) / 200 million (adult population)

    We can simplify this to 13/20, which can then be convert into a decimal, 0.65

    The labor force participation rate is 65%
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