A country has a population of 160 million. Thirty million of its people are under the age of 16 and 10% of the population is either in the military or institutionalized. Seventy million people have jobs, and five million are looking for work. What is the labor force participation rate in this country?

Question

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the population that is either employed or unemployed but looking for work. In this case, the labor force is 70 million (employed) + 5 million (unemployed) = 75 million. The labor force participation rate is therefore 75 million / 160 million * 100% = 66%.

A Country Has a Population of 160 Million