If the number of employed people is 15 million, the number of unemployed people is 5 million, and the working-age population equals 28.5 million people, the labour force participation rate is

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Quizplus · Accepted Answer

The labour force participation rate is calculated by dividing the labour force (the sum of employed and unemployed people) by the working-age population and then multiplying by 100 to get a percentage. Here, the labour force is 15 million (employed) + 5 million (unemployed) = 20 million. The working-age population is 28.5 million. So, the labour force participation rate is (20 million / 28.5 million) * 100 = 70.2 per cent.

If the Number of Employed People Is 15 Million, the Number