What is the workforce?

In economics, especially the economy of labor, the workforce is generally defined as people of productive age who, employed or unemployed, either work or look for a job. In general, people younger age or retirement age are not considered part of the workforce. In most places, it begins at a productive age aged 14 to 16, while the retirement age tends to be around 65 years of age. Full -time students, people in the army, long -term sick and disabled and students with unnamed incomes also do not count in strength. One is considered unemployed if he currently does not have a job but is willing and available for work. The unemployed are therefore considered part of the workforce, although they do not actually produce any work. On the other hand, those who long for work, but have stopped actively looking for them for discouraging or other factors, are not considered part of the components. The high unemployment rate is generally a bad thing because it means that exMany people who want to work but not enough jobs to do.

Another important concept used by economists is the degree of participation in strength, which is the ratio of the size of the labor force to the overall population of people of productive age in the area. It is used to analyze trends and changes in the workforce. For example, the degree of participation increased, for example, when women started working in larger numbers. Previously they were at productive age, but they did not work, so the degree of participation was much lower. The degree of participation also describes the effects of a large influx of workers on the workforce; If there are not enough jobs, the total employment and the total unemployment may increase.

The size of the workforce is largely dependent on economic conditions. When the economy runs smoothly and productively, the strength should be large and only a small proportion of individuals in strength should be unemployed. BothIt can be said that in a good economy, those who want employment can find them, and people are unlikely to discourage and leave the workforce. On the other hand, when the economy fails well or is in a state of crisis, strength is likely to drop, as the unemployment rate increases and people are discouraged.