Question

A government worker surveys a number of households and comes up with the following information: there were a total of 100 people in the households, 10 of the people were children under 16, 60 people had full-time jobs, 10 people had part-time jobs, 5 were stay-at-home parents, 10 were full-time students over the age of 16, and 5 people had no job but were looking for jobs. According to the information in the survey, the labor force participation rate is: Choose one: A. 75 percent. B. 66.7 percent. C. 94.4 percent. D. 90 percent. E. 83.3 percent.

Answer 1

The correct option is A) 75 percent

Explanation:

Consider the provided information.

There were a total of 100 people in the households, 10 of the people were children under 16, 60 people had full-time jobs, 10 people had part-time jobs, 5 were stay-at-home parents, 10 were full-time students over the age of 16, and 5 people had no job but were looking for jobs.

We need to find the labor force participation rate:

The formula to calculate the labor force is: Sum of all workers who are employed or actively seeking employment divided by the total working-age population.

Labor force = Full-time job + part-time job + Looking for job

= 60 + 10 + 5

= 75

Total number of Population = 100

Labor force participation = (Labor force / Population) × 100

=
`(75)/(100)* 100=75\%`

Hence, the correct option is A) 75 percent