Labour force participation rate is 63.53 percent
It is calculated as 164.5/258.9*100
=63.53 percent
The labor force participation rates is calculated as the labor force divided by the total working-age population multiplied by 100.
The working age population refers to people who are aged by 15 to 64. This indicator is broken down by age groups and it is measured as a percentage of each age group.
The labor force participation rate is an estimate of active workforce of any economy. The formula is that the number of people ages 16 and older who are employed as well as actively seeking employment is divided by the total non-institutionalized and civilian working-age population.
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