In: Economics
Hubert is a 21-year-old professional tennis player. When he's not competing, he works as a coach at a local tennis club. employed
Kate is a 42-year-old autoworker who was just laid off by her employer. She is trying to find any kind of job to help make ends meet. unemployed
Manuel is a 45-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago. not in the labor force
Valerie is a 29-year-old who lost her job as an associate producer for a radio station. After spending a few weeks out of work and interviewing for several other positions, she gave up on her job search and decided to go back to grad school. She made that decision a few months ago. not in the labor force
Shen is a famous novelist. He is spending the summer at his lake house in upstate New York, doing a little writing each day but mostly spending his time gardening and reading. not in the labor force
Poornima is a 13-year-old student at East Valley Middle School. She babysits her younger brother and does other chores, so her parents give her an allowance of $20 per week. not in the adult population
Employed: Those who are actively working
Unemployed: Those who are not working and looking for jobs
Not in the Labor Force: Those who are not actively seeking employment but are also not employed
Not in the adult population: Those who are below the age of 18.
Labour Force Participation Rate = (Employed + Unemployed) / (Employed + Unemployed + Not in labour Force) = (1+1) / (1+1+3) = 2/5 = 40%
So the Labor force Participation Rate is 40%
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