I want to check that I am using the correct definition for labor force participation rates by gender or income group. For instance, if we have the following:
1- Working age population of 800 people, with 400 men and 400 women 2- Total workforce of 500 individuals, with 300 men and 200 women.
Would the LFP rate for women be 200 in the workforce/800 total working age population?
Or 200 women in the workforce/ 400 working age women?
I have seen both used, but I assume only the second denominator is correct?