Question

question
if the total adult working population of country x is 450 million, the number of unemployed people is 95 million, and the number of employed people is 245 million, what is the labor force participation rate? round your answer to the nearest tenth.
provide your answer below:
labor force participation rate =
%

Explanation:

Step1: Calculate the labor force

The labor force is the sum of employed and unemployed people.
$Labor\ force=Employed + Unemployed$
$Labor\ force = 245+95=340$ (million)

Step2: Calculate the labor - force participation rate

The formula for the labor - force participation rate is $Labor\ force\ participation\ rate=\frac{Labor\ force}{Adult\ working\ population}\times100\%$
Substitute the values: $Labor\ force\ participation\ rate=\frac{340}{450}\times100\%$
$=\frac{34000}{450}\%$
$\approx75.6\%$

Answer:

$75.6$