Percentage of total workforce who are unemployed and are looking for a paid job
The fraction of population who are not employed or unemployed during the survey
WAGE
ACTIVE POPULATION
ACTIVITY RATE
Percentage of the total labor force that is unemployed but actively seeking employment and willing to work
the number of people who are either employed or are actively looking for work
SUPPLY
Total population in a region, within a set range of ages, that is considered to be able and likely to work
UNEMPLOYMENT RATE
PARTICIPATION RATE
MINIMUM WAGE
DEMAND
Monetary remuneration computed on hourly, daily, weekly, or piece work basis
Percentage of active persons in relation to the comparable total population
It is determined by the intersection of supply and demand for labor
describes a consumer's desire and willingness to pay a price for a specific good or service.
The fraction of a population that is either employed or actively seeking employment
INACTIVE POPULATION
WORKING-AGE POPULATION
minimum amount of compensation an employee must receive for performing labor. They are typically established by contract or legislation by the government
UNEMPLOYMENT POPULATION
EQUILIBRIUM WAGE
fundamental economic concept that describes the total amount of a specific good or service that is available to consumers
