Calculate the number of people in labor force, if the population is 100, among that 60 people have jobs, 10 are in search of job and 15 people who are retired?
Answers
Answer:
the answer is below
Explanation:
The labor force participation rate (LFPR) refers to the number of people available for work as a percentage of the total population. In August 2020, it was 61.7%.1
The LFPR measures the amount of labor in an economy, one of the factors of production. The other three are natural resources, capital, and entrepreneurship.2
Answer:
The people have jobs = 60
The people are in search of jobs =10
The people who are retired = 15
The people who are unemployed=100-(60+10+15)
= 100 - 85
=15
The total number of people in force = The people are in search of jobs +The people who are retired + The people who are unemployed
So the total number of people in labor force =10+15+15
=40
Explanation:
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