If the city has a total population of 200 million, 80% are adults. 125 million workers are employed, and 10 million workers are unemployed. Then, the labour force participation rate (LEPR) equals (rounded to one decimal place)
Question
If the city has a total population of 200 million, 80% are adults. 125 million workers are employed, and 10 million workers are unemployed. Then, the labour force participation rate (LEPR) equals (rounded to one decimal place)
Solution 1
The Labour Force Participation Rate (LFPR) is the percentage of the working-age population (adults) that is either employed or actively looking for work. The labour force is made up of the employed and the unemployed.
First, let's calculate the size of the working-age population (adults):
Working-age population = Total population * Percentage of adults Working-age population = 200 million * 0.80 Working-age population = 160 million
Next, let's calculate the size of the labour force:
Labour force = Number of employed workers + Number of unemployed workers Labour force = 125 million + 10 million Labour force = 135 million
Now, we can calculate the LFPR:
LFPR = (Labour force / Working-age population) * 100% LFPR = (135 million / 160 million) * 100% LFPR = 0.84375 * 100% LFPR = 84.375%
Rounded to one decimal place, the LFPR is 84.4%.
Solution 2
The labor force participation rate (LFPR) is calculated as the ratio of the labor force to the adult population. The labor force includes both employed and unemployed workers.
First, calculate the total adult population:
Adult population = Total population * Percentage of adults Adult population = 200 million * 80% = 160 million
Next, calculate the size of the labor force:
Labor force = Number of employed workers + Number of unemployed workers Labor force = 125 million + 10 million = 135 million
Finally, calculate the labor force participation rate:
LFPR = (Labor force / Adult population) * 100% LFPR = (135 million / 160 million) * 100% = 84.375%
Rounded to one decimal place, the labor force participation rate is 84.4%.
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