Suppose the working age population is 100 million. 10 million are not available for work, 5 million are available for work but not currently working or looking for work, and 10 million are unemployed. Suppose the rest are employed. What is the labor force participation rate?

Question

BlackTom AI · Accepted Answer

We start by identifying the components of the working age population and how many are in the labor force.

- Working age population: 100 million.
- Not available for work: 10 million. These are outside the labor force.
- Available for work but not currently working or looking for work: 5 million. These are also outside the labor force.
- Unemployed: 10 million. These are part of the labor force but not employed.

Next, determine how many are employed. Subtract those not in the labor force (not available + available but not active) and the unemployed from the working age population:
- Employed = 100 million − (10 million + 5 million + 10 million) = 75 million.

Now compute the labor force, which is the sum of employed and unemployed:
- Labor force = 75 million (employed) + 10 million (unemployed) = 85 million.

Finally, calculate the labor force participation rate, defined as the labor force divided by the working age population:
- Participation rate = 85 million / 100 million = 0.85 = 85%.

Evaluating the options:
- 75%: This would imply a labor force of 75 million, which ignores the 10 million unemployed and miscounts the employed share.
- 90%: This would require a larger labor force than calculated, inconsistent with the given numbers.
- 85%: This matches the computed 85 million in the labor force out of 100 million working-age people.
- 80%: This would correspond to 80 million in the labor force, which is not supported by the data.

Therefore, the third option, 85%, correctly reflects the labor force participation rate given the scenario.

Suppose the working age population is 100 million. 10 million are not available for work, 5 million are available for work but not currently working or looking for work, and 10 million are unemployed. Suppose the rest are employed. What is the labor force participation rate?单项选择题

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