What is the employment rate?

Employment rate is the assessment of the percentage of individuals staying in the defined geographical area currently used. Usually, the rate is based on the total number of people in this defined area, which are considered employer based on factors such as age. For use in various types of economic evaluation, different types of employment rate can be calculated, while some calculations focus on overall jobs, while others focus only on those that are considered full -time employed.

Many people are familiar with the level of unemployment that identifies the percentage of eligible citizens who are currently not employed or hold jobs that do not meet the standards for calculating the image. The employment rate shows the other side of the economic image, focusing on the percentage of qualified inhabitants who are considered active in the workforce. In most countries, the goal is to maintain a percentage for unemployment as lowAs possible and at the same time supports opportunities that provide a high employment rate.

There are differences in how the employment rate is calculated. For example, it is not uncommon for people who work only enough hours a week after a minimum number of consecutive weeks to be considered part -time employees and are not relevant to determine full -time employment. Other calculations may include a full -time and part -time job using a formula that helps to balance the average between the total number of hours worked in the geographical area and within the set time frame.

understanding of the current employment rate and as the current unemployment rate for the same period and location concerns is essential for the development of the exact view of the economy in this area. In view of the differences in the employment ratio to the population, it can determine whether the new job annexesThe ryes in this area are compensated by the loss of plants' closure and other losses and whether the rate is high enough to indicate the economy of health at this place. Many jurisdictions will regularly determine the unemployment rate for a defined geographical area, sometimes as often as every month.

Standards

in different countries differ in creating the base for calculating the current employment rate. In some countries, anyone who is 15 to 65 years of age is considered employable. Other countries may decide to determine the age standard for at least 18 and a maximum of 70. Knowledge of the exact criteria used in a given nation to assess the employment rate is necessary to interpret data with greater accuracy, especially when comparing rates between two or more countries.