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Homework answers / question archive / Use the data below to answer the following question:  Civilian population  200 million  Number employed  120 million  Number unemployed  40 million  What is the labor force participation rate in this economy? Enter its value (in percentage points)  below:   

Use the data below to answer the following question:  Civilian population  200 million  Number employed  120 million  Number unemployed  40 million  What is the labor force participation rate in this economy? Enter its value (in percentage points)  below:   

Economics

Use the data below to answer the following question: 
Civilian population 
200 million 
Number employed 
120 million 
Number unemployed 
40 million 
What is the labor force participation rate in this economy? Enter its value (in percentage points) 
below: 
 

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Computation of Labor Force Participation Rate:

Labor Force Participation Rate = Total Labor Force / Population * 100

Here,

Total Labor Force = Number Employed + Number Unemployed = 120 million + 40 million = 160 million

Population = 200 million

 

Labor Force Participation Rate = 160 million / 200 million*100 = 0.80 or 80%

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