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kenny6666 [7]
3 years ago
11

If the number of unemployed workers is 19 million, the number in the working-age population is 500 million, and the unemployment

rate is 4%, what is the labor force participation rate?
A. 7.8%
B. 96.2%
C. 95%
D. 4.75%
Business
1 answer:
konstantin123 [22]3 years ago
4 0

Answer:

labor force participation rate= 96.2%

Explanation:

Giving the following information:

Unemployed people= 19 million

Labor force= 500 million

<u>First, we need to calculate the employed people:</u>

<u></u>

Employed population = 500 - 19= 481 million

<u>Now, to calculate the labor force participation rate, we need to use the following formula:</u>

<u></u>

labor force participation rate= (employed people/labor force)*100

labor force participation rate= (481/500)*100

labor force participation rate= 96.2%

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