Question

What is the difference between labor force & out of labor force? To which category retired population is included?

Answer 1

Labor force is nothing but the the subject of population which includes employed and unemployed people where employed people are actually the ones who are doing their jobs and earn and unemployed people are the ones who actually looking for a job and are willing to work. Example a teacher and a software engineer whose job has been lost due to recession and looking for a new one include under the labour force

People who are not in the labour force include the ones who are not eligible to work that is who are below the age of 16 and also the people who are not willing to work or not actively looking for a job and not doing any job and the people who have retired from their work and basically it is the total population minus the labour force and in this regard people who have retired are not doing any job and also not looking for any job and that is the reason why they are also not in the labour force