Number of employed=134.4 million
Number of unemployed=8.6million
Adult population=213.5million
Find labour force,find labour force participation,find unemployment rate,number of people not in labour force
To find the labor force, we need to add the number of employed and unemployed individuals:
Labor Force = Number of Employed + Number of Unemployed = 134.4 million + 8.6 million = 143 million.
To find the labor force participation rate, we divide the labor force by the adult population and multiply by 100:
Labor Force Participation Rate = (Labor Force / Adult Population) * 100 = (143 million / 213.5 million) * 100 ≈ 67.04%.
To find the unemployment rate, we divide the number of unemployed individuals by the labor force and multiply by 100:
Unemployment Rate = (Number of Unemployed / Labor Force) * 100 = (8.6 million / 143 million) * 100 ≈ 6.01%.
To find the number of people not in the labor force, we subtract the labor force from the adult population:
Number of People Not in Labor Force = Adult Population - Labor Force = 213.5 million - 143 million = 70.5 million.
To find the labor force, you need to add the number of employed and the number of unemployed.
Labor force = Employed + Unemployed
Labor force = 134.4 million + 8.6 million
Labor force = 143 million
To find the labor force participation rate, you need to divide the labor force by the adult population and multiply by 100.
Labor force participation rate = (Labor force / Adult population) x 100
Labor force participation rate = (143 million / 213.5 million) x 100
Labor force participation rate = 0.6697 x 100
Labor force participation rate = 66.97%
To find the unemployment rate, you need to divide the number of unemployed by the labor force and multiply by 100.
Unemployment rate = (Unemployed / Labor force) x 100
Unemployment rate = (8.6 million / 143 million) x 100
Unemployment rate = 0.0601 x 100
Unemployment rate = 6.01%
To find the number of people not in the labor force, you subtract the labor force from the adult population.
Number of people not in labor force = Adult population - Labor force
Number of people not in labor force = 213.5 million - 143 million
Number of people not in labor force = 70.5 million