Answer to Question #188734 in Macroeconomics for zohan

Question

In 2017-18 the Pakistan Bureau of statistics announced that of all adult Pakistanis, 59,786,200 were employed, 3,613,800 were unemployed and 58,800,000 were not in the labor force. Use this information to calculate the labor-force participation rate.

Answer 1

Employed Pakistan's =59786200

Unemployed Pakistan's=3613800

Not in the labor force=58800000

Total adult Pakistan's= Employed + Unemployed+ Not in the labor force

=59786200+3613800+58800000

=122200000

Labor force= Employed Pakistan's + Unemployed Pakistan's

=59786200+3613800

=63400000

$Labor force participation rate=\frac{labor force}{adult Pakistan's}× 100$

$\frac{63400000}{122200000}×100$

=51.8821%

=51.88%