Suppose the population (age 16 and over) of the Philippines is 100 million; 5 million are unemployed, and 70 million hold jobs. The labor force participation rate in the Philippines is

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated as the sum of employed and unemployed individuals divided by the total population (age 16 and over), then multiplied by 100. Here, the labor force is 75 million (70 million employed + 5 million unemployed), and the population is 100 million. So, the rate is (75 million / 100 million) * 100 = 75 percent.

Suppose the Population (Age 16 and Over) of the Philippines