-In the above table, the labor force participation rate is
A) 55 percent.
B) 62 percent.
C) 69 percent.
D) 44 percent.

Question

-In the above table, the labor force participation rate is
A) 55 percent. 
B) 62 percent. 
C) 69 percent. 
D) 44 percent.

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the working-age population (15 years and older) who are either employed or unemployed but actively looking for work. In this table, the labor force participation rate is calculated by dividing the number of employed and unemployed persons by the total working-age population and multiplying by 100. From the table, we can see that the total working-age population is 100,000 and the number of employed and unemployed persons (i.e. the labor force) is 62,000. Therefore, the labor force participation rate is (62,000/100,000) x 100 = 62 percent.

-In the Above Table, the Labor Force Participation Rate Is