To calculate the labor force participation rate, we first need to determine the labor force, which is the sum of the number of employed and the number of unemployed individuals.
Given:
- Number of employed: 92.3 million
- Number of unemployed: 5.7 million
Calculating the labor force: \[ \text{Labor Force} = \text{Number of Employed} + \text{Number of Unemployed} \] \[ \text{Labor Force} = 92.3 + 5.7 = 98.0 , \text{million} \]
Next, the labor force participation rate is calculated using the formula: \[ \text{Labor Force Participation Rate} = \left( \frac{\text{Labor Force}}{\text{Adult Population}} \right) \times 100 \]
Given the adult population is 139.7 million, we can plug in the numbers: \[ \text{Labor Force Participation Rate} = \left( \frac{98.0}{139.7} \right) \times 100 \]
Now, performing the division: \[ \frac{98.0}{139.7} \approx 0.7023 \]
Now, converting to a percentage: \[ 0.7023 \times 100 \approx 70.23 % \]
Thus, the labor force participation rate is approximately 70.2 percent.
The answer is: d. 70.2 percent.
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