Question

If the population 16 or older in Germany is 72,159,000, and the labor force participation rate (LFPR) is 63.45%, what is the size of the labor force?

a) 45,707,015
b) 51,188,055
c) 72,159,000
d) 114,463,100

Answer 1

The size of the labor force in Germany is approximately 45,707,015.

Step-by-step explanation:

To determine the size of the labor force in Germany, we can use the labor force participation rate (LFPR) and the population 16 or older. The LFPR is the percentage of the population that is either employed or actively looking for work.

First, we calculate the labor force by multiplying the population 16 or older by the LFPR: 72,159,000 * 0.6345 = 45,707,015.

Therefore, the size of the labor force in Germany is approximately 45,707,015.