Question

If the relevant population is 268 million people and the number of people in the labor force is 148 million, the labor force participation rate is

Answer 1

Given:
Population, P = 268 million
Labor force, LF = 148 million

The labor force participation rate is
LFPR = LF/P = 148/268 = 0.552

Note:
P, the population includes the number of people who are eligible to join the labor force.

Answer: 0.552