labor force

The labor force includes all people aged typically between 16 and 65 who are either working (employed) or actively looking for work (unemployed). It doesn't include those not seeking employment, like students, retirees, or homemakers. The size of the labor force provides insight into the active portion of a country's population contributing to economic productivity. Monitoring changes in the labor force helps assess employment trends, economic health, and workforce participation levels, serving as a key indicator for policymakers and economists when analyzing the economy's performance.