Question

The Bureau of Labor Statistics is interested in this years labor participation rate. If there are 350 million working-age adults and 300 million in the labor force, what is the labor participation rate?

Answer 1

85.71%

Step-by-step explanation:

The formula and the computation of the labor participation rate are shown below:

= Labor force ÷ working-age adults × 100

= 300 million ÷ 350 million × 100

= 85.71%

It shows a relationship between the labor force and the working-age adults or we can say working-age adult population and according to that, the labor participation rate has come