If the number of unemployed workers is 20 million, the number of employed workers is 30 million, and the working-age population is 80 million, what is the labour force participation rate?
A)12.5%
B)18%
C)37.5%
D)40%
E)62.5%

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the labor force (the sum of employed and unemployed workers) by the working-age population and then multiplying by 100. In this case, the labor force is 20 million (unemployed) + 30 million (employed) = 50 million. The working-age population is 80 million. Therefore, the labor force participation rate is (50 million / 80 million) * 100 = 62.5%.

If the Number of Unemployed Workers Is 20 Million, the Number