The percentage of the civilian non-institutionalized population aged 16 years and older who are currently employed. It's a direct measure of how well a population is converting into employment, regardless of labor force participation.
This ratio offers a clear indication of a community's ability to provide jobs for its residents. It's less affected by changes in who is looking for work (like the unemployment rate) and gives a direct measure of actual employment.
Specific Relevance for Professionals:
Marketers
Helps identify markets with a high percentage of employed individuals, signaling strong consumer confidence and purchasing power. Useful for targeting communities with robust employment bases for various products and services.
Researchers
Fundamental for understanding labor market efficiency and the overall economic health of a region. It's a key metric for studying employment trends and economic well-being across different populations.
Consultants
Crucial for economic development consultants assessing the job creation capacity of a region or for businesses evaluating potential locations based on the strength of the local employment landscape.
Public Policy Workers
A vital metric for evaluating the success of job creation initiatives, assessing local economic health, and informing policies aimed at maximizing employment opportunities within a community.