Looking at the number of people in the labor force in the economy, you can see the labor force has increased significantly since 1950. The number of people hit a new high in 2019, but does that mean that the labor participation rate was also at a new high?
A) Yes, the number of people in the labor force means the participation rate is also at a new high
B) Yes, because the number of people employed is at a new high
C) No, the level of inflation distorts the labor force numbers
D) You cannot tell from the data in the spreadsheet because you would need to know what the size of the overall cohort is