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Labor Force

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In macroeconomic statistics, the labor force is the sum of all employed and unemployed adults. The Bureau of Labor Statistics estimates the approximate size of the labor force regularly. Each individual age 16 or above is categorized as being employed, unemployed, or not in the labor force, according to current and recent guidelines. The most common reasons for a non-child to be classified not in the labor forces are to be retired, a student, or institutionalized. The size of the labor force changes over time. Labor force fluctuations occur due to a combination of demographic, social, and seasonal trends as well as macroeconomic conditions. In general, the majority of the population is part of the labor force. For example, the US labor force in 2000 averaged 141 million. In addition, the population included about another 69 million people not in the labor force.

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