Given the following data,what is the labor force participation rate? Population 300 million
Non-institutionalized population,age 16 and over 250 million
Persons employed or seeking employment 200 million
Unemployed persons 10 million
A)10%
B)75%
C)80%
D)84%

Question

Quizplus · Accepted Answer

The labor force participation rate is calculated by dividing the number of employed or seeking employment individuals by the non-institutionalized population aged 16 and over.

Labor force participation rate = (Employed + Unemployed) / Non-institutionalized population aged 16 and over

In this case, the labor force participation rate = (200 million + 10 million) / 250 million = 80%, so the best choice is C).

Given the Following Data,what Is the Labor Force Participation Rate