In: Economics
U.S. adult population by group, June 2017
Number employed = 153.2 million
Number unemployed = 7.0 million
Adult population = 255.0 million
Calculate
Labor force = number of employed + number of unemployed = 153.2 million + 7 million = 160.2 million.
The unemployment rate = unemployment/ labor force = 7/160.2 = 0.04369 = 4.37%
Labor force participation rate = labor force/ adult population = 160.2 million/ 255 million = 0.62823 = 62.82%.