Labor Force
Definition
Everyone working or actively seeking work. Excludes retirees, students, stay-at-home parents, and discouraged workers.
Example
If a country has 50M employed and 5M unemployed (looking), its labor force is 55M.
Everyone working or actively seeking work. Excludes retirees, students, stay-at-home parents, and discouraged workers.
If a country has 50M employed and 5M unemployed (looking), its labor force is 55M.