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Complete the right half of the following equation to reflect the labor force participation rate reported...

Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.

Labor Force Participation Rate = _______ 

According to this formula, what is the labor force participation rate of this economy of six people?

  • 33.33 %

  • 40 %

  • 50 %

  • 60 %

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Answer #1

Labor force participation rate(LFPR) = labor force/ total working age population

Labor force = people employed + people willing and able finding jobs(unemployed)

If there are 6 people in labor force and 10 total in working age population then, LFPR is 6/10 = 60%

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Answer #2

the answer is 80 %


labor participation rate=100 (4/5)=80 percent

  =  
 


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answered by: jeffory
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