Consider the following statements:1.Labour Force Participation Rate (LFPR) is defined as the percentage of employed persons in the population.2.Unemployment Rate (UR) is defined as the percentage of persons unemployed among the persons in the population.Which of the statements given above is/are correct?

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Q. Consider the following statements:
1.Labour Force Participation Rate (LFPR) is defined as the percentage of employed persons in the population.
2.Unemployment Rate (UR) is defined as the percentage of persons unemployed among the persons in the population.
Which of the statements given above is/are correct?

[A] 1 only

[B] 2 only

[C] Both 1 and 2

[D] Neither1 nor 2

Answer: D

Notes:

Labour Force Participation Rate (LFPR): LFPR is defined as the percentage of persons in labour force (i.e. working or seeking or available for work) in the population.

Worker Population Ratio (WPR): WPR is defined as the percentage of employed persons in the population.

Unemployment Rate (UR): UR is defined as the percentage of persons unemployed among the persons in the labour force.

Source- Article

Post-Mains Strategy Session by Mr. Ayush Sinha | ForumIAS