Question : The "Labor Force Participation Rate" (LFPR) measures the:
Option 1: Percentage of employed individuals in the working-age population
Option 2: Percentage of unemployed individuals in the working-age population
Option 3: Percentage of employed individuals in the total population
Option 4: Percentage of unemployed individuals in the total population
Correct Answer: Percentage of employed individuals in the working-age population
Solution : The correct answer is a) Percentage of employed individuals in the working-age population.
The Labor Force Participation Rate (LFPR) is a measure that calculates the proportion of the working-age population (usually defined as individuals above a certain age, such as 15 or 16, and below the retirement age) who are employed or actively seeking employment. It provides an indication of the level of engagement in the labor market within a specific population.
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