Labor Force Growth

Labor force growth refers to the increase in the number of people who are available and willing to work. This growth can stem from various factors, such as population increases, more individuals entering the job market, and changes in the economy that create new job opportunities. A growing labor force can boost economic productivity and innovation. However, if it outpaces job creation, it may lead to higher unemployment. Understanding labor force growth is essential for assessing economic health and planning for future workforce needs.