Which of the following labour market statistics best indicates the amount of labour that is available to the economy from a given working-age population?
A)unemployment rate
B)discouraged-worker ratio
C)labour force participation rate
D)the ratio of minimum wage to inflation
E)the employment population ratio

Question

Quizplus · Accepted Answer

The labour force participation rate is the percentage of the working-age population (those aged 15-64) who are either employed or actively seeking employment. This provides an indication of how many people in the working-age population are available for the labour market, as it includes both those who are employed and those who are actively seeking employment. The other options do not provide a direct indication of the available labour force, as they focus on unemployment, discouraged workers, minimum wage, or the ratio of employment to population.

Which of the Following Labour Market Statistics Best Indicates the Amount