Scenario: The Employment Rate
A group of 10 people includes three retirees,two part-time workers,two discouraged workers,one unemployed worker,and two full-time workers.
The labour force participation rate is _____%.

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated as the number of people in the labor force divided by the total number of people, multiplied by 100. The labor force includes full-time workers, part-time workers, and unemployed workers. In this scenario, there are 2 full-time workers, 2 part-time workers, and 1 unemployed worker, making a total of 5 people in the labor force. The total group size is 10 people. Therefore, the labor force participation rate is (5/10) * 100 = 50%.

Scenario: the Employment Rate