In a country with a working-age population of 100 million, 70 million workers are employed and 5 million workers are unemployed. What is the labor force participation rate?
A) 70 percent
B) 5 percent
C) 75 percent
D) 7 percent

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the labor force (the sum of employed and unemployed workers) by the working-age population and then multiplying by 100. In this case, the labor force is 70 million (employed) + 5 million (unemployed) = 75 million. Therefore, the labor force participation rate is (75 million / 100 million) * 100 = 75 percent.

In a Country with a Working-Age Population of 100 Million