Suppose a country has a population of 61 million, of which 37 million are in the working-age population.Of those, 11 million are not in the labor force and 23 million are employed.The labor-force participation rate is

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Quizplus · Accepted Answer

The labor-force participation rate is calculated as the labor force divided by the working-age population. The labor force is the sum of employed and unemployed individuals. Here, the labor force is 23 million employed + (37 million working-age - 23 million employed - 11 million not in labor force) = 26 million. The participation rate is (26 million / 37 million) * 100 = 70.3 percent.

Suppose a Country Has a Population of 61 Million, of Which