Labor Force
The labor force is a term used to describe the total number of people employed or actively seeking employment in a given economy. It is a key indicator of economic health and is used to measure the size of the workforce and the level of economic activity. The labor force is made up of both the employed and the unemployed. The employed are those who are currently working or have a job, while the unemployed are those who are actively seeking employment but are not currently employed.
History of the Term
The term “labor force” was first used in the late 19th century to describe the number of people employed in a given economy. It was used to measure the size of the workforce and the level of economic activity. The term has since been adopted by economists and statisticians to measure the size of the labor force in a given economy. The labor force is an important indicator of economic health and is used to measure the size of the workforce and the level of economic activity.
Comparison Table
| Country | Labor Force (millions) |
|---|---|
| United States | 164.3 |
| China | 814.3 |
| India | 487.7 |
| Japan | 65.9 |
| Germany | 44.4 |
Summary
The labor force is an important indicator of economic health and is used to measure the size of the workforce and the level of economic activity. It is made up of both the employed and the unemployed. The labor force is an important indicator of economic health and is used to measure the size of the workforce and the level of economic activity. For more information about the labor force, visit the websites of the U.S. Bureau of Labor Statistics, the International Labour Organization, and the World Bank.
See Also
- Employment
- Unemployment
- Labor Market
- Labor Economics
- Labor Productivity
- Labor Supply
- Labor Demand
- Labor Mobility
- Labor Force Participation Rate
- Labor Force Participation Rate by Age
