How many people are employed if the labor force participation rate is 60%,there are 3 million people unemployed,and there are 30 million people not in the labor force?
A)54 million
B)48 million
C)42 million
D)30 million

Question

Quizplus · Accepted Answer

The labor force is the sum of employed and unemployed people. If 30 million are not in the labor force, then the total population is 30 million + labor force. The labor force participation rate is 60%, so the labor force is 60% of the total population. Let x be the total population: 0.6x = labor force. The labor force is also 3 million (unemployed) + employed. Solving these equations gives 42 million employed.

How Many People Are Employed If the Labor Force Participation