What is Labor Force Participation Rate (LFPR)?
The Labor Force Participation Rate is a metric used to analyze employment and unemployment data because it measures the number of people actively searching for jobs as well as those who are currently employed. An important economic statistic, the Labor Force Participation Rate (LFPR) represents the percentage of the working-age population that is either employed or actively looking for work.
It is computed by dividing the total labor force, that is, the sum of the employed and unemployed by the working-age population, then multiplying the quotient by 100. The result is presented as a percentage.
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