It is false, because the labor force is the sum of the employed and the unemployed. So the fact that employment has increased by 17.3 million and unemployed has decreased by 6.3 million means that the labor force has increased by 11 million.
What is the difference between labor force and workforce?
Labor force refers to the number of people who are actually working or willing to work. However, work force refers to the number of people actually working. Therefore, workforce do not count those who work willingly. The difference between them is the total number of unemployed people.
What is the meaning of labor force?
- The labor force is the sum of the employed and the unemployed, and the unemployment rate is the number of unemployed divided by the labor force. An employee is a person who works at least one hour for her wages or for her own company at any time of the week, including his 12th day of the month.
- Example: This includes full-time, part-time and freelancers. This includes people who receive hourly wages, salaries, or are paid under a contract. The total labor force includes all persons aged 16 and over who are not retired.
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