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Given a total population of 1 million, a working age population of 500,000, a labor force of 400,000, 300,000 employed, and 100,000 unemployed... ..the labor force participation rate is:
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Given a total population of 1 million, a working age population of 500,000, a labor force of 400,000, 300,000 employed, and 100,000 unemployed... ..the labor force participation rate is:

User JohnRudolfLewis
by
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1 Answer

11 votes

Answer:

the labor force participation rate is 80%

Step-by-step explanation:

The computation of the labor force participation rate is given below:

Labor force participation rate = labor force ÷ working-age population × 100

= 400,000 ÷ 500,000 × 100

= 4 ÷ 5 × 100

= 80%

hence, the labor force participation rate is 80%

User James Eaves
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3.6k points
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