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In this country, 14
In this country, 14.4 million people are unemployed, and the unemployment rate is 8 %.
(Round your responses to one decimal place.)
Labor force 180.0 million
Adults in the military 9.0 million
Employed adults 165.6 million
Non adult population 9.0 million
Institutionalized adults 6.0 million
Nonmilitary, noninstitutionalized adults not in labor force 60.0 million
The labor force participation rate is ____ %.
(Round your answer to the nearest percent.)
Expert Solution
Computation of Labor Force Participation Rate:
Labor Force Participation Rate = (Labor Force / Adult Population )*100
Here,
Adult Population = Labor Force + Not in Labor Force
=180+60
=240 million
So,
Labor Force Participation Rate = (180/240)*100 = 75%
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