Labour Market Terms

Question 1

Define working population

Answer 1

The total number of individuals who are of working age

Typically considered to be those who are capable of and available for work.

*It includes both employed and unemployed individuals.

Question 2

Define labour force

Answer 2

Those who are either employed or actively seeking employment.

Question 3

Define economic inactivity

Answer 3

Those not engaged in the labour force; includes:

pensioners

students

homemakers

discouraged workers

others who are neither employed nor actively seeking employment.

Question 4

What is the labour force participation rate?

Answer 4

Workers in the labour force compared to the number of people in the working population.

Question 5

What is the employment rate?

Answer 5

the proportion of people of working age who are in employment.

employees

self-employed

full time

part time