Question

question 8
1 pts
in january of 2001, the population of the united states was 276.8 million, the working - age population was 210.2 million, the total number of people employed was 140, and the total number of people unemployed was 5.0 million. what was the labor force participation rate?
90 percent
56 percent
67 percent
78 percent
69 percent

Explanation:

Step1: Calculate the labor force

The labor force is the sum of employed and unemployed people. So, labor force \(= 140 + 5.0=145\) million.

Step2: Calculate the labor - force participation rate

The formula for the labor - force participation rate is \(\text{Labor - force participation rate}=\frac{\text{Labor force}}{\text{Working - age population}}\times100\).
Substitute the values: \(\frac{145}{210.2}\times 100\approx78\) (rounded to the nearest whole number).

Answer:

D. 78 percent