Question

There are 100 people inside of a grocery store. 20 of them are unemployed. 60 of them are employed. 10 are children. 10 are retired. What is the labor force participation rate?•60•70•80•100

Answer 1

labor force population rate = (total number of people eligible for or desiring work)/(total civilian population) = (employed+unemployed)/(total population) = (60+20)/100 = 80/100

The LFPR is 80%.