Labor Force

Posted by Mr. P | Key Words | Saturday 17 January 2009 5:44 PM

The labor force is the number of people in a population who are of working age and are willing or wanting to work.  Working age is usually above sixteen years old and below sixty-five.  If someone is not looking for work, such as a homeless peddler on the street or a full time student, then they are not considered unemployed because they are not willing or wanting to look for employment.  Also if someone has not been able to find a job and gives up looking then they are considered a discourage worker, but they no longer count as part of the labor force or the unemployed becuase they are no longer seeking employment.

The following equation calculates the labor force:

Labor Force = Employed + Unemployed

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