Suppose the civilian non-institutionalized working-age population is 35.9 million in Laborland.

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13-03-2024
Business

College

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Suppose the civilian non-institutionalized working-age population is 35.9 million in Laborland.

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akankshasharma92 akankshasharma92 · Answer 1 · 2023-11-16T22:53:50-05:00

The civilian non-institutionalized labor force in Laborland would be 28.1 million. This is calculated by multiplying the working age population (35.9 million) by the national labor force participation rate (78.1%).

Divide the total civilian noninstitutional population by the number of persons who are employed or actively seeking employment to find the formula for the labour force participation rate. In January 2000, the labour force participation rate reached a maximum of 67.3%. Recessions and an ageing population are just two of the many variables that have pushed the rate below its high. Everyone who is either employed or unemployed is referred to as being in the labour force. The civilian noninstitutional population aged 16 or older who worked at least an hour or more as paid employees over the previous week is referred to as the employed. Also, it includes individuals who toiled for 15 hours or more on a family-run farm or company.

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