Labor Force Participation Rate

Posted in Human Resource Terms, Total Reads: 643
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Definition: Labor Force Participation Rate

It is the ratio of the labor force, which is the actual number of people available for work both employed and unemployed and the total national population of people of the same age.

 

Labor Force Participation Rate = Labor Force / Total National Population of Same Age

 

This ratio measures the portion of the country’s labor force that are active, be it those who are already employed, ot those who are actively searching for a job. This ratio helps the government in analyzing the unemployment rate in the economy.

 

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