Question:
Which of the following is correct for the calculation of Labour Force Participation Rate of a country?
(1) (Employed – Unemployed) / Working-age Population x 100
(2) (Employed + Unemployed) / Working-age Population x 100
(3) (Working-age – Employed) / Economically Active Population x 100
(4) Working-age Population / Total Population x 100
(5) Economically Active Population / Total Population x 100
Correct Answer:
(2)
Answer Explanation:
The Labour Force Participation Rate (LFPR) represents the proportion of the working-age population that is economically active. Since the economically active population consists of both the Employed and the Unemployed, the formula is: ((Employed + Unemployed) / Working-age Population) x 100.
Topic: Unemployment Year: 2022
Leave a Reply