Labor Force Participation - HR Glossary
Labor force participation is the percentage of the working-age population (often aged 15 to 64) that is either employed or actively looking for work. It is an important economic and demographic measure that reveals the extent to which a population is employed. Labor force participation is frequently used to measure an economy's health and vitality, as well as to forecast future labor market trends.
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Example
In July 2023, the United States' labor force participation rate was 61.7%. This indicates that 61.7% of the population aged 15 to 64 was either working or actively seeking for job during that month. A growing labor force participation rate might signal an improving economy, whereas a falling rate can indicate problems such as unemployment or discouragement among potential workers.
