In 2000 in Japan, based on concepts similar to those used to compute Canadian employment statistics, the unemployment rate was about 4.8 percent, the labour force participation rate was about 62 percent, and the adult population was about 108 million. How many people were employed?

Question

Quizplus · Accepted Answer

To calculate the number of people employed, we need to first find the size of the labour force by multiplying the adult population by the labour force participation rate:

Labour force = Adult population x Labour force participation rate
Labour force = 108 million x 0.62
Labour force = 67.08 million

Next, we can calculate the number of unemployed as a percentage of the labour force:

Unemployed = Labour force x (Unemployment rate/100)
Unemployed = 67.08 million x (4.8/100)
Unemployed = 3.22 million

Finally, we can calculate the number of employed as the difference between the labour force and the unemployed:

Employed = Labour force - Unemployed
Employed = 67.08 million - 3.22 million
Employed = 63.86 million, which is approximately 64 million

Therefore, the answer is B) about 64 million.

In 2000 in Japan, Based on Concepts Similar to Those