Quote:
Originally Posted by onwebcam
You keep leaving this key part out of your equation the same as Rochard.. It's already been addressed so you're just making yourself look like an idiot by not reading previous comments..
"In addition, students, retirees, the disabled, homemakers, and the voluntarily idle are not counted in the labor force"
These people aren't included because they a. Can't (disabled) b. Already have. (retired) c. Choose not to.. (homaemaker) D. Other obligations (school)
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Labor Force Participation Rate = (Labor Force / Total Population over Age 16) * 100
EXACTLY! So the retired people are not in the labor force. They are in the Total Population.
10 people over 16 - This our total population.
2 are retired. So they don't count in the labor force. 10-2=8.
The labor force has 8.
(8/10)*100
Labor Force Participation Rate = 80% .
You can see how if lots of folks retire, it effects our final answer.