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Use the following table to answer the question. Numbers are in the millions.
Total population | 342.6 |
Adult population | 222.7 |
Number of unemployed | 9.4 |
Number of employed | 135.3 |
The labor-force participation rate is _______.
ANSWER:
To calculate the labor-force participation rate, use the formula:
First, we need to determine the labor force, which is the sum of the number of employed and the number of unemployed:
Now, calculate the labor-force participation rate:
Rounding to the nearest whole number, the labor-force participation rate is:
d. 65 percent