Which of the following pieces of information do you need to calculate the labour force participation rate?
I.the number of employed persons
II.the number of unemployed persons
III.the population
IV.the working age population
A)I and II
B)I and III
C)I, II and III
D)I, II and IV
E)all of the above

Question

Quizplus · Accepted Answer

The labour force participation rate is the ratio of the labour force to the working age population, where the labour force is the sum of employed and unemployed individuals who are actively seeking work. Therefore, to calculate the labour force participation rate, we need the number of employed persons, the number of unemployed persons, and the working age population. The population as a whole is not needed, as the labour force participation rate only looks at those of working age.

Which of the Following Pieces of Information Do You Need