In 2008 the US had a population of 304 million of which 70 m

In 2008 the US had a population of 304 million, of which 70 million were either under the age of 16 or institutionalized. 154 million were either employed or, or unemployed and seeking work. What was the participation rate? 1.

Solution

Solution:-

Civilian Non-Institutionalized Population= 304 million - 70 million=234 million

Labor Force = 154 million

LFPR= (154/234)*100 = 65.81%

 In 2008 the US had a population of 304 million, of which 70 million were either under the age of 16 or institutionalized. 154 million were either employed or,

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