If the labor-force participation rate is 82% and the total population 16 years of age or older is 1 million people, the labor force is
A) 910,000 people.
B) 820,000 people.
C) 740,000 people.
D) 180,000 people.

Question

Quizplus · Accepted Answer

The labor force participation rate is the proportion of the total population of working age that is either employed or actively seeking employment. Therefore, the labor force can be calculated by multiplying the total population of working age by the labor force participation rate.

Labor force = Total population of working age x Labor force participation rate
Labor force = 1,000,000 x 0.82
Labor force = 820,000

Therefore, the answer is B) 820,000 people.

If the Labor-Force Participation Rate Is 82% and the Total