U.S. Labor Force vs. Total Population

U.S. Labor Force vs. Total Population (1940-2003)

Real World Data for Economics Principles

This econ learning object will present (1) the labor force rates by population: the total labor force as the percentage of the U.S. total population and (2) the employment rates by population: the total employed as the percentage of the U.S. total population. The formula is (1) "the rate (%) = (labor force/total population)*100," and (2) "the rate (%) = (employed/total population)*100," respectively.

The labor force excludes (1) people less than 16 years of age***; (2) people institutionalized; and (3) potential workers ("not in labor force" such as homemakers, full-time students or retirees) from the total population.

*** "people less than 14 years of age" was used before 1947.

The labor force includes people who are willing and able to work: (1) employed and (2) unemployed.

The labor force and unemployment data are collected by a nationwide random survey of some 60,000 households each month (by the U.S. Bureau of Labor Statistics).

Source:

Annual Average Labor Force Rates and Empolyment Rates by Population (1940 - 2003), Bureau of Labor Statistics, U.S. Department of Labor, ftp://ftp.bls.gov/pub/special.requests/lf/aat1.txt. Unemployment rates of the civilian noninstitutional population.

Data Showcase (Animated Data Presentation)