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The labor force participation rate also rises, is the explanation.
The required details for labor force participation rate ,in given paragraph
The labor force is divided by the total population of people who are working-age to arrive at the labor force participation rates. The working age population ranges in age from 15 to 64. This statistic is assessed as a percentage of each age group and is broken down by age. However, the rate of labor force participation did not improve as quickly. There are a number of explanations for this low participation rate during COVID-19, including the need for dependent care, increased unemployment benefits, or people's fear of contracting the COVID virus.
Because it reflects the proportion of human resources that are readily available for the creation of products and services, this rate is a crucial indicator of the labor market.
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