what is "in the labor force of a state" Find out the difference between "people who...
what is "in the labor force of a state"
Find out the difference between "people who are in paid employment" in a state, and "people who are in the labor force" of a state. Which group is bigger? People who are employed for pay OR people who are in the labor force of the state?
Homework Answers
First of all we should understand the difference between employed people and labour force
Labour force is the sum of employed as well as unemployed people
Employed people are those people which are actively contributing in the economy workforce of the economy but if we talk about unemployed people then there are those people who are not actively contributing in the workforce but looking for the work for the last four weeks
So obviously we can see that the labour force of a state is bigger as compared to paid employment because it includes unemployed people as well the labour force
Labor force participation rate is calculated by the ratio of percentage of labour force to the working age population
Working age population lies between 16 to 64 years
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what is "in the labor force of a state"
Find out the difference between "people who...
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