Answer
The BLS will count anyone over the age of 16 as either unemployed, employed, or not in the labor force. The labor force is simply the sum of unemployed and employed. From this, we can derive the unemployment rate as the number of unemployed over the labor force. The labor force participation rate is calculated as the percentage of the ADULT population ( not population but ADULT) divided by the labor force.
Work Step by Step
This question first tests your knowledge what the BLS considers an adult (16+) then it asks you to derive equations to understand information about the labor force.
