Definition
The percentage of the civilian non-institutionalized population aged 16 years and older who are either employed or actively looking for work. It indicates the proportion of the working-age population available for work.
Why It Matters
Indicates how many people are engaged in or trying to enter the workforce. A few examples to use this data would include evaluating regional talent availability for employers, forecasting demand for job-training programs, or assessing how economic cycles affect workforce engagement.
Specific Relevance for Professionals:
Marketers
Helps identify markets with a high proportion of employed individuals, indicating stronger purchasing power and potential for products and services. Relevant for targeting job-seekers or career development programs.
Researchers
Fundamental for studying labor market dynamics, workforce availability, and trends in economic engagement. It provides context for analyses of employment, unemployment, and economic stability.
Consultants
Crucial for talent acquisition strategies, economic development proposals, and advising clients on the availability and engagement level of the workforce in a potential new market or location.
Public Policy Workers
A vital metric for assessing economic health, developing workforce training programs, and informing policies aimed at encouraging labor force participation and reducing barriers to employment.
