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Use the information in the following table to calculate the labour force participation rate of a hypothetical country in 2019 and 2020. Year:2019; Labour force:10
Use the information in the following table to calculate the labour force participation rate of a hypothetical country in 2019 and 2020.
Year:2019; Labour force:10 000 000; Number of employed in formal sector: 500 000
Year:2020; Labour force: 12 000 000; Number of employed in formal sector: 1 200 000
[1] Labour force participation rate = 5%
[2] Labour force participation rate = 10%
[3] Labour force participation rate = 50%
[4] Labour force participation rate = 100%
[5] Labour force participation rate = 5% and 10% respectively
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