The labor-force participation rate was 154/ 234.9
The rate of the entire working-age population that is actively seeking employment is defined as the "labor force participation rate." In simple words, it measures the size of the labor force, which consist of both the labor force that is employed and the labor force that is actively seeking employment.
The formula for the rate of Labour-force participation is given by
Labor Force Participation Rate = Labor Force / Total Civilian Non-Institutional Population
Where,
Labor Force = Total Employed Civilians + Total Unemployed civilians
Here we have,
The total adult population = 234. 9 million
The population of unemployment = 12.4 million
The population of employment = 141.6 million
From the above formulas,
Labor Force = 141.6 million + 12.4 million = 154 million
Labor Force Participation Rate = 154/ 234.9
Therefore, The labor-force participation rate was 154/ 234.9
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