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The Bureau of Labor Statistics (BLS) defines the labor force as: [5]. Included are persons 16 years of age and older residing in the 50 States and the District of Columbia who are not inmates of institutions (for example, penal and mental facilities, homes for the aged), and who are not on active duty in the Armed Forces.
Indeed, the U.S. workforce is projected to grow by 10% by 2040, [8] and should not decline before 2048. [15] However, young people are spending more time in education and training and are entering the workforce at a later age. A loss in skilled and capable workers has made it harder for employers to recruit new staff. [16]
They are currently the backbone of the American workforce, making up the largest portion at 38%, [13] especially as Gen X and boomers continue to age out of the workforce. 73 percent of millennials reporting working more than 40 hours a week and nearly a quarter work more than 50 hours a week. [14]
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The labor force participation rate for women in their prime working age hit an all-time high in June, reaching 77.8%, according to Bureau of Labor Statistics data released Friday as part of the ...
U.S. unemployment rate and employment to population ratio (EM ratio) Wage share and employment rate in the U.S. Employment-to-population ratio, also called the employment rate, [1] is a statistical ratio that measures the proportion of a country's working age population (statistics are often given for ages 15 to 64 [2] [3]) that is employed.
It is the only index associated with the age distribution of a population. [1] Currently, the median age ranges from a low of about 18 or less in most Least Developed countries to 40 or more in most European countries, Canada, Cuba, Hong Kong, Japan, South Korea, Taiwan, and Thailand.
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