Answer :
Answer:
143.7 million
Explanation:
Given that
Unemployed = 13.5 million
Adults not participating = 73.1 million
Labour force participation rate = 68.26 = 0.6826
Employed = x
Recall that
Labour force participation rate = (employed + unemployed)/total adult population
0.6826 = (13.5 + x) / (13.5 + x + 73.1)
0.6826 = 13.5 + x / 86.6 + x
13.5 + x = 59.11316 + 0.6826x
13.5 - 59.11316 = 0.6826x - x
-45.61316 = -0.3174x
X = 45.61316 ÷ 0.3174
= 143.708
= 143.71 million
Employed people therefore = 143.71 million
Answer:
The economy has 143.70 million employed workers
Explanation:
The 73.1 million that do not participate in the labor force represents 31.74% of the entire workforce(total workforce of 100% less participatory workforce i.e 100%-68.26%)
31.74%=73.1 million
100%=73.1 million/31.74%
100%=230.31 million
Invariably, the entire able-bodies in the economy is 230.31 million
Employed workers=able-bodies less unemployed workers less non-participatory workers
employed workers=230.31-13.5-73.1
employed workers=143.70 million