Jim Whitney Economics 101

Employment and Unemployment

U.S. Population
Civilian noninstitutional population 16 years of age and older Other:             
 
 

 
  
Labor force (LF) Not in the labor force (NLF)
 
 
  
 
 
 
 
 		  xxx
Employed (E)
 
 
 
 
 
 

 
 
 
 
 

 Unemployed (U)
 
 
 
 
 
 
 
 
 
 
 
 
 		  xxx
 
Key formulas:
Labor force participation rate (%) = 100·(# in labor force) / (Civilian population 16+ years old)
Unemployment rate (%) = 100·(Number unemployed)/(Number in labor force)