Homework Answers
Labor force:
Labor force = Employed + Unemployed
= 154.43 million + 6.68 million
= 161.11 million
The labor force participation rate:
Labor force participation rate = (Labor force ÷ Total population 16 years or older) x 100
= (161.11 million ÷ 256.78 million) x 100
= 62.74 percent
The unemployment rate:
Unemployment rate = (Number of unemployed individuals ÷ Labor force) x 100
= (6.68 million ÷ 161.11 million) x 100
= 4.15 percent
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Find the working-age population, labor force, number of
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