Which of the following pieces of information do you need to calculate the labor 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

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the sum of all employed and unemployed persons (I and II) by the working age population (IV) and then multiplying by 100 to get a percentage. The general population (III) is not used in this calculation.

Which of the Following Pieces of Information Do You Need