Question

In February 2015 the Bureau of Labor Statistics reported an adult population of 250 million, unemployment of 10.4 million, employment of 142.8 million, and .8 million marginally attached workers. Based on these numbers, the labor force participation rate was_____________.

Answer 1

Answer:

labor force participation rate = 61.28 %

Explanation:

given data

adult population = 250 million

unemployment = 10.4 million

employment = 142.8 million

marginally attached workers = .8 million

to find out

labor force participation rate

solution

we know that labor force participation rate is equal to  100 × labor force (no of people employed + no of people unemployed) and  divided by the adult non institutionalized population

so here

labor force participation rate = 100 × $\frac{142.8 + 10.4}{250}$

labor force participation rate = 61.28 %