1. You can use a calculator to answer this question - an actual calculator or the calculator on your phone. Either is fine.
Assume that
Given this information, what is the employment to population ratio?
State your answer as a percentage (type in the percentage symbol), and round to one decimal place, i.e. xx.x%
2. You can use a calculator to answer this question - an actual calculator or the calculator on your phone. Either is fine.
Assume that
Given this information, what is the labor force participation rate?
State your answer as a percentage (type in the percentage symbol), and round to one decimal place, i.e. xx.x%
1.
Non-institutionalized civilian population
U.S. population less population under 16 years, institutionalized or in military service= 328 million -70 million=258 million.
Not in labor force= 258 million - 96 million= 162 million.
Population who have not looked for work in recent times are not counted in the labor force.
Unemployed = 7 million.
Employed = 162 million - 7 million= 155 million.
2. LFPR = Labor Force / Civilian Non-Institutionalized Population
where the Labor Force = Employed + Unemployed
Labor force = Employed + Unemployed= 155 million + 7 million= 162 million.
Non-institutionalized civilian population= 258 million.
LFPR= 162/258=0.6.
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