In a country with a working-age population of 100 million, 70 million workers are employed and 5 million workers are unemployed. What is the labor force participation rate?
A) 7 percent
B) 70 percent
C) 75 percent
D) 5 percent

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the labor force (employed + unemployed) by the working-age population and then multiplying by 100. Here, the labor force is 75 million (70 million employed + 5 million unemployed), and the working-age population is 100 million. So, the labor force participation rate is (75/100) * 100 = 75 percent.

In a Country with a Working-Age Population of 100 Million