The labor force encompasses individuals over 16 years of age who are either employed or actively seeking employment, as measured by the U.S. Bureau of Labor Statistics.
The rate of growth in national income that maintains the current level of employment and wages. This rate equals the growth rate of the labor force added to the rate of productivity.
The unemployed labor force consists of the portion of the population that is not employed but is willing and able to work and is actively seeking employment.
The term 'work force' or 'labor force' refers to the total number of people who are eligible and willing to work, either currently employed or actively seeking employment. In economic terms, it encompasses both the employed and the unemployed who are looking for jobs, excluding those who are not seeking employment, such as retirees, students, or homemakers.
