ECONOMICS
ECONOMIC GROWTH
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
Employed plus those who are Unemployed
|
|
|
Everyone that currently holds a job
|
|
|
Government Employees
|
|
|
Everyone over the age of 18
|
Detailed explanation-1: -The labor force is the sum of the employed plus the unemployed, and the unemployment rate is the number unemployed divided by the number in the labor force. People are considered employed if they work at least one hour for pay or at their own business at any time during the week including the twelfth day of the month.
Detailed explanation-2: -People with jobs are employed. People who are jobless, looking for a job, and available for work are unemployed. The labor force is made up of the employed and the unemployed.
Detailed explanation-3: -Labor force participation rate, or participation rate In other words, the participation rate is the percentage of the population that is either working or actively looking for work. The labor force participation rate is calculated as: (Labor Force รท Civilian Noninstitutional Population) x 100.
Detailed explanation-4: -The labour force, or currently active population, comprises all persons who fulfil the requirements for inclusion among the employed (civilian employment plus the armed forces) or the unemployed.