Question

question
assume that the total working - age population is 121.6 million. if 50.0 million are not in the labor force, what is the labor
force participation rate? (round your answer to one decimal place.)
provide your answer below:
%

Explanation:

Step1: Calculate the labor - force participation rate formula

The formula for the labor - force participation rate is \(\text{Labor - force participation rate}=\frac{\text{Labor force}}{\text{Total working - age population}}\times100\%\).
The labor force \(L = 121.6-50.0=71.6\) million.
The total working - age population \(P = 121.6\) million.

Step2: Substitute values into the formula

$$
LATEXBLOCK0
$$

Answer:

\(58.9\%\)