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Labor Force Participation Rate Formula
The following formula can be used to calculate the labor force participation rate of a given country or area.
LFPR = LF / P *100
- Where the LFPR is the labor force participation rate
- LF is the total labor force = total employed + unemployed
- P is the working-age able population
To calculate the labor force participation rate, divide the total labor force by the work-age able population, then multiply by 100.
Labor Force Participation Rate Definition
The labor force participation rate, or LFPR for short, is a measure of the percentage of a given population is participating in labor. In other words, it’s another way of saying the employed percentage of the working-age “able” population including those looking for work.
This can be applied to a country or a smaller area. The working population should only include individuals that are capable of work.
Labor Force Participation Rate Example
How to calculate a labor force participation rate?
- First, determine the labor force.
Calculate the total number of people in the labor force.
- Next, determine the working age population.
Calculate the total number of people of working age.
- Finally, calculate the participation rate.
Calculate the labor force participation rate using the formula above.
The labor force participation rate is the percentage of people in a working population that are either employed or seeking employment.