Labor force

Labor force or workforce refers to the total number of people who are currently employed or seeking employment in a country or region. It includes both the employed and the unemployed. The labor force is a significant factor in determining the economic strength and growth of a country.

Definition

The labor force, also known as the workforce, is defined as the sum of all people who are of working age (typically 15 to 64 years old in most countries), are not institutionalized, are not in the military, and who are either employed or unemployed and looking for work. This definition is used by the International Labour Organization and by many national statistics agencies.

Labor force participation rate

The labor force participation rate is the percentage of the working-age population that is part of the labor force. This rate can be affected by a number of factors, including economic conditions, social norms, education levels, and government policies.

Unemployment

Unemployment is a state in which a person who is actively seeking employment cannot find work. The unemployment rate is the percentage of the labor force that is unemployed. It is a key indicator of economic health.

Employment

Employment refers to the state of having paid work. A person who is employed may work full-time or part-time, and may be self-employed or work for an employer.

Labor force by occupation

The labor force can be broken down by occupation, which can provide insight into the structure of an economy. For example, a high percentage of workers in agriculture may indicate a developing economy, while a high percentage of workers in services may indicate a more developed economy.

See also

• Employment-to-population ratio
• List of countries by labor force
• List of countries by unemployment rate

Labor force Resources
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