A country has a population of 326 million. There are 68 million persons under age 16. There are 156.5 million employed persons and 6.5 million unemployed persons. What is the labor force participation rate? Round to the nearest whole percentage.

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the labor force (the sum of employed and unemployed persons) by the working-age population (total population minus those under age 16) and then multiplying by 100 to get a percentage. Here, the labor force is 156.5 million (employed) + 6.5 million (unemployed) = 163 million. The working-age population is 326 million (total population) - 68 million (under age 16) = 258 million. Thus, the labor force participation rate is (163 / 258) * 100 = 63.18%, which rounds to 63%.

A Country Has a Population of 326 Million