Answer:
45.30% and 8.14%
Explanation:
Data given in the question
Number of people over age 25 = 28.19 million
Employed people = 11.73 million
Unemployed people = 1.04 million
So, by considering the above information, the
Labor force participation rate is
= Labor force participation ÷ Adult population
where,
Labor force participation rate is
= 11.73 million + 1.04 million
= 12.77 million
And, the adult population is 28.19 million
So, the labor force participation rate is
= 12.77 million ÷ 28.19 million
= 45.30%
And, the unemployment rate is
= Number of unemployment persons ÷ labor force
= 1.04 million ÷ 12.77 million
= 8.14%