Labor force participation is the percentage of the working-age population (often aged 15 to 64) that is either employed or actively looking for work. It is an important economic and demographic measure that reveals the extent to which a population is employed. Labor force participation is frequently used to measure an economy's health and vitality, as well as to forecast future labor market trends.
Example
In July 2023, the United States' labor force participation rate was 61.7%. This indicates that 61.7% of the population aged 15 to 64 was either working or actively seeking for job during that month. A growing labor force participation rate might signal an improving economy, whereas a falling rate can indicate problems such as unemployment or discouragement among potential workers.
