Labor Force Participation Rate

Written by Jerry Ratzlaff on . Posted in Manufacturing Engineering

Labor force participation rate, abbreviated as LFRP, is the porporation of the total working age population that is available to work as part of the labor market.

 

labor force participation rate Formula

\(\large{ LFRP =  \frac{ LF }{ CP }   }\)   

Where:

\(\large{ LFRP }\) = labor force participation rate

\(\large{ LF }\) = labor force

\(\large{ CP }\) = total civilian noninstitutional population

 

Tags: Equations for Manufacturing