![]() ![]() Here are the steps to calculating the employment rate: 1. You might calculate the employment rate for professional reasons if you're researching relative economic health or making long-term plans. Read more: How To Calculate the Labor Force Participation Rate How to use the employment rate formula The employment rate compares the number of people who are employed to the available labor force, so it will be a higher number than the employment-to-population ratio. It measures those who intend to work rather than those who are currently working.Įmployment-to-population ratio: This ratio compares the number of people who are employed to the total population. ![]() Labor force participation rate: The labor force participation rate counts those who are employed and actively looking for a job and compares that number to the total population. Some unemployment calculations also include those who are working part time but are looking for full-time work, who are considered "underemployed." ![]() Unemployment rate: The unemployment rate counts those who are temporarily not working and those looking for work. Here's how those rates are different from the employment rate: The employment rate is one of several simple calculations that can help you understand the health of a certain place, like the unemployment rate and the labor force participation rate. This is the formula to calculate the employment rate as a percentage:Įmployment rate = (number of people who are employed / total labor force) x 100 How does the employment rate compare to similar statistics? The employment rate can give information about the economy, so public agencies might include it in their news releases, and the media may track the employment to demonstrate economic health. Children under the age of 16, people who are institutionalized and people over the age of 64 aren't counted as potentially employed. It's usually measured over a certain period of time for a certain geographic area, like a city, state or country. The employment rate is the percentage of potentially employed people who have jobs. ![]()
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