High School

Rajiv is a 50-year-old autoworker who was laid off from his job 6 months ago. He is frustrated with his inability to find a new full-time position. Last week, he took a part-time job but was given only 3 hours of work.

Simone is a 29-year-old professional basketball player. She finished her last season as a player 3 weeks ago and is currently interviewing for a coaching position.

Yakov is a 45-year-old accountant who has been out of work for almost a year. He became so discouraged that he gave up on his job search a couple of months ago.

Dina is a 31-year-old science teacher who taught at West Valley Middle School last year. Due to budget cuts, she was laid off at the end of the school year. It's the summer now, and after a few weeks of vacation with her family, she is looking for a part-time job as a tutor.

Charles is a 20-year-old American Studies major at the University of Tennessee. It's summer now, and he is working as a lifeguard in Mobile, Alabama.

Ana is a 13-year-old student at East Valley Middle School. She babysits her younger brother and does other chores, so her parents give her an allowance of $25 per week.

Complete the right half of the following equation to reflect the labor force participation rate reported by the BLS.

Labor Force Participation Rate =

According to this formula, what is the labor force participation rate of this economy of six people?

Answer :

The labor force participation rate of this economy, based on the information provided, is 50%.

The labor force participation rate, we need to determine the number of individuals in the labor force divided by the total working-age population. The labor force consists of individuals who are employed or actively seeking employment.

Rajiv - actively seeking employment

Simone - actively seeking employment

Yakov - discouraged and not actively seeking employment

Dina - actively seeking employment

Charles - employed as a lifeguard

Ana - not part of the labor force (student, not seeking employment)

The labor force participation rate formula is:

Labor Force Participation Rate = (Labor Force / Working-Age Population) x 100

Since Ana is not part of the labor force and Yakov has given up on his job search, the labor force would consist of Rajiv, Simone, and Dina (3 individuals). The working-age population would include all six individuals.

Labor Force Participation Rate = (3 / 6) x 100 = 50%

To learn more about labor force refer here:

https://brainly.com/question/13962639#

#SPJ11