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Labour Force Calculation
A national statistics agency reports the following data for a country's working-age population:
- Employed individuals: 150 million
- Individuals without a job who have been actively applying for work in the past month: 8 million
- Full-time university students not seeking work: 5 million
- Retired individuals: 25 million
- Individuals without a job who would like to work but have not looked for a job in the past month: 2 million
Based on this information, calculate the total size of the country's labour force and explain which groups from the report are included and which are excluded in your calculation.
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Economics
Economy
Introduction to Macroeconomics Course
Ch.1 The supply side of the macroeconomy: Unemployment and real wages - The Economy 2.0 Macroeconomics @ CORE Econ
The Economy 2.0 Macroeconomics @ CORE Econ
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The Economy 2.0 Microeconomics @ CORE Econ
Analysis in Bloom's Taxonomy
Cognitive Psychology
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Related
Participation Rate
Unemployment Rate
Employed Person
Unemployed Person
Consider the following descriptions of four working-age individuals:
- A chef who works 40 hours a week at a restaurant.
- A recent college graduate who is not employed but has been applying for jobs every week.
- A retired individual who volunteers at a local library but is not seeking paid work.
- A full-time student who is not looking for a job.
Which of these individuals are considered part of the labour force?
Labour Force Calculation
Impact of Worker Behavior on Labour Force Size
All individuals of working age who are not currently employed are considered part of the labour force.
Labour Force Membership as a Prerequisite for Employment Status