A country has a working-age population of 30 million, with 18 million employed and 2 million unemployed. 2 million of the employed are working part-time, and half of these persons wish to work full-time. The labour force participation rate is
A) 10 percent.
B) 11.1 percent.
C) 60 percent.
D) 63.3 percent.
E) 66.7 percent.

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated as the labor force divided by the working-age population, then multiplied by 100 to convert to a percentage. The labor force includes both employed and unemployed individuals, so in this case, it's 18 million employed plus 2 million unemployed, totaling 20 million. The working-age population is 30 million. Therefore, the labor force participation rate is (20 million / 30 million) * 100 = 66.7 percent.

A Country Has a Working-Age Population of 30 Million, with 18