Use the data below to answer the following question(s).
Table 8-3

-Refer to Table 8-3.What is the labor force participation rate of the economy?

Question

Use the data below to answer the following question(s).
Table 8-3
 
-Refer to Table 8-3.What is the labor force participation rate of the economy?

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the working-age population (in this case, 16 years and older) that is either employed or unemployed and actively seeking employment. The labor force is the sum of employed and unemployed individuals. From the given data in the table, the labor force is 180 million (145 million employed + 35 million unemployed), and the working-age population is 240 million. Therefore, the labor force participation rate is (180/240) x 100 = 75 percent. Option C is correct.

Use the Data Below to Answer the Following Question(s)