LABOUR FORCE Meaning and
Definition
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The term "labour force" refers to the total number of individuals who are able and willing to work within a given population, typically within a specific geographic region or country, during a particular period of time. It includes all individuals, both employed and unemployed, who are actively seeking or willing to engage in paid employment. The labour force is a critical component of an economy as it represents the pool of available human resources that contribute to the production of goods and services.
The size and composition of the labour force are influenced by various factors, including population growth, demographic changes, educational attainment, and government policies. It is typically measured through surveys conducted by statistical agencies or labor market institutions, which collect data on employment status as well as individuals' readiness and availability for work.
The labour force is often classified into different categories, such as employed, unemployed, or not in the labour force. The employed category includes individuals who are currently working in both full-time and part-time positions, while the unemployed category includes individuals who are actively seeking employment but are currently without a job. Those who are considered as not in the labour force include individuals who are not seeking employment, such as students, retirees, and individuals engaged in voluntary work or homemaking.
Understanding the labour force is crucial for policymakers, economists, and businesses, as it provides insights into the overall health and potential of an economy, guides the formulation of labor market policies, and helps in anticipating and addressing potential labor market imbalances.
Common Misspellings for LABOUR FORCE
- kabour force
- pabour force
- oabour force
- lzbour force
- lsbour force
- lwbour force
- lqbour force
- lavour force
- lanour force
- lahour force
- lagour force
- labiur force
- labkur force
- lablur force
- labpur force
- lab0ur force
- lab9ur force
- laboyr force
- labohr force
- labojr force
Etymology of LABOUR FORCE
The term "labour force" is derived from Middle English and has its roots in the Latin word "labor" meaning "to work" or "toil". The word "force" refers to a group or body of people with a common purpose. When combined, "labour force" refers to the total number of people who are available and willing to work in a particular society, region, or industry. The term began to gain popularity in economic and social contexts during the late 19th century and is now commonly used to describe the supply of workers in various sectors.
