The figures below (in millions) are for the United States during the year 2003.
The rate of labor force participation of the U.S. in 2003 was

Question

The figures below (in millions) are for the United States during the year 2003. 
The rate of labor force participation of the U.S. in 2003 was

Quizplus · Accepted Answer

The labor force participation rate is the percentage of the working-age population (age 16 and over) who are either employed or actively looking for work. In 2003, the labor force was 146.5 million, and the total population was approximately 294 million. Therefore, the labor force participation rate can be calculated as (146.5 / 294) x 100 = 49.8%. However, this calculation includes individuals who are not part of the labor force, such as retirees, students, and homemakers. To obtain the rate that includes only those who are able and willing to work, we need to divide the labor force by the working-age population. In 2003, the working-age population was approximately 221 million, so the labor force participation rate is (146.5 / 221) x 100 = 66.2%. Therefore, the answer is C.

The Figures Below (In Millions) Are for the United States