Let's examine labor force participation in October 2019, July 2020, and October 2020 Household Employment Data (Numbers in billions) Labor Force Employed Working age Population Unemployed October 2019 July 2020 October 2020 259.8 260.4 260.9 164.4 159.9 160.9 158.5 143.5 149.8 5.8 17.8 11.1 Example: Let's calculate labor force participation and the unemployment rate for October 2019. Labor Force Participation Rate = People in the Labor Force x 100 Total Working Age Population = 164.4 x 100 259.8 = 0.6327 X 100 = 63.3% | Unemployment Rate = Unemployed People Total Labor Force X 100 = 5.8 x 100 164.4 = 0.0353 X 100 = 3.5% Now, calculate the labor force participation rate and the unemployment rate for July 2020 and October 2020. Show your work and then enter all the data into the table below. 1. July 2020 2. October 2020 Labor Force Unemployment Rate Participation Rate October 2019 63.3% 3.5% July 2020 October 2020

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