Jonia's population of 500,000 includes 95,000 children below age 16, 80,000 retirees, 20,000 discouraged workers, 228,000 employed persons, and 12,000 unemployed persons. What is the labor force participation rate of Jonia?

Question

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the population that is either employed or unemployed. In this case, the labor force is 228,000 + 12,000 = 240,000. The population is 500,000. So the labor force participation rate is 240,000 / 500,000 * 100 = 48%.

Jonia's Population of 500,000 Includes 95,000 Children Below Age 16