What is the Labour Force
The labor force comprises individuals actively engaged in employment or seeking work within a specific geographic area or country. It includes both employed individuals and those actively seeking employment. The labor force is a key metric in economic analysis, influencing indicators like the unemployment rate. It does not encompass individuals not seeking employment, such as retirees, full-time students, or those not actively participating in the job market.
Who Counts as Employed In the Workforce?
An employed person is typically anyone aged 16 and older who works for pay or profit. This includes full-time, part-time, and temporary work, as well as self-employment. During any given BLS survey reference week, you’re considered an employed part of the labor force if the following apply:
- You’ve completed one paid hour or more of work for an employer or at your own business.
- You’ve performed at least 15 hours of unpaid work at a business owned by a family member.
- You were temporarily absent from work (due to PTO, parental leave, or strike, etc.), but still hold a job.
