What does the labor force participation rate measure?
Choose 1 answer:
(A) The percent of the labor force that is unemployed
(B) The percent of the population that has given up looking for work
(c) The percentage of people who are looking for work
(D) The number of people out of the labor force
(E) The percentage of the eligible population that is either employed or out of work and searching for work

Question

Accepted Answer

∻Solution by Steps∻ ‖ step 1 ⋮ To understand the labor force participation rate, we need to know its definition in the context of labor statistics. ‖ ‖ step 2 ⋮ The labor force participation rate is calculated as the ratio of the sum of all workers who are employed and those who are unemployed but looking for work to the total eligible working-age population. The formula is: $$ ext{Labor Force Participation Rate} = \left( \frac{ ext{Labor Force}}{ ext{Eligible Working-Age Population}} ight) imes 100\% $$ ‖ ‖ step 3 ⋮ The labor force includes both employed individuals and those who are unemployed but actively seeking employment. It does not include those who have given up looking for work or are not seeking employment. ‖ ∻Answer∻ ***E*** ∻Key Concept∻ ⚹Labor Force Participation Rate⚹ ∻Explanation∻ ⚹The labor force participation rate measures the percentage of the eligible population that is either employed or out of work and searching for work.⚹◊What is the formula to calculate the labor force participation rate⍭ Generate me a similar question◊

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