Labor
Labor Force Participation Rate
Definition
The percentage of the working-age population (typically 15-64) that is either employed or actively seeking employment.
Explanation
This rate captures both employed and unemployed workers — people who have left the workforce entirely (retirees, students, discouraged workers) are excluded. Female labor force participation varies enormously — from above 80% in Nordic countries to below 20% in some Middle Eastern nations. Low participation can mask true employment problems better than the headline unemployment rate.