The formula to calculate the Employment Participation Rate (PR) is:
\[ PR = \left( \frac{E}{P} \right) \times 100 \]
Where:
The employment participation rate is a measure of the active portion of an economy’s labor force. It refers to the percentage of people who are either employed or actively looking for work. This rate is an important indicator of the labor market’s health and can provide insights into the economy’s overall performance. A higher participation rate suggests a more active and engaged workforce, while a lower rate may indicate economic challenges or demographic shifts.
Let's assume the following values:
Using the formula to calculate the Employment Participation Rate:
\[ PR = \left( \frac{150,000}{200,000} \right) \times 100 = 75% \]
The Employment Participation Rate is 75%.