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If the total adult working-age population of the U.S. is 350 million, the number of unemployed people is 20 million, and the number of employed people is 170 million, what is the labor force participation rate? (Round your answer to the nearest tenth.)

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Labor force participation rate =



Answer :

GinnyAnswer
To find the labor force participation rate, let's go through the solution step-by-step:

1. Determine the total labor force:
- The labor force includes both the unemployed and the employed individuals.
- Given:
- Number of unemployed people = 20 million
- Number of employed people = 170 million
- Therefore, the total labor force = number of unemployed + number of employed
- Total labor force = 20 million + 170 million = 190 million

2. Calculate the labor force participation rate:
- The labor force participation rate is the percentage of the adult working-age population that is part of the labor force.
- Given:
- Total adult working age population = 350 million
- Labor force participation rate = (labor force / total adult working age population) 100

Substituting the known values:
- Labor force participation rate = (190 million / 350 million) 100

3. Perform the division and multiplication:
- (190 / 350) * 100 = 54.285714285714285...

4. Round the result to the nearest 10th:
- The result rounded to the nearest 10th is 54.3%.

Therefore, the labor force participation rate is approximately 54.3%.

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