Consider the following statements 1 Size of labourforce depends on population growth rate 2 Labour f...........

Economic Affairs Employment related Issues

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Consider the following statements:.

1. Size of labourforce depends on population growth rate.

2. Labour force growth rate may exceed population growth rate.

Which of the statements give above is/are correct?

1 only

2 only

Both 1 and 2

Neither1 nor 2

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Explanation:

Factors affecting the size of a labor force include population, income, educational attainment, home ownership, number of industries and government policies. Economic Online reveals that a 1 percent growth in state population causes a 0.74 percent growth in the size of the labor force.