Labor force and unemployment rate in USA from (2008-2019)

Economics Nov 21, 2020

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Answer to the question:

Total Labour Force: Number of people in an economy in teh age group of 15-60 and are looking for job at current wage rate are considered as labour force.

Unemploymend rate: It is the ratio of total unemployed in an economy and the total labour force in an economy multiplied by 100. In other words, number of unemployed people per 100 labour force.

Year	2008	2009	2010	2011	2012	2013	2014	2015	2016	2017	2018	2019
Labour force in Million	154.29	154.14	153.89	153.62	154.98	155.39	155.92	157.13	159.19	160.32	162.07	163.54
Unemployment Rate (%)	5.78	9.25	9.63	8.95	8.07	7.38	6.17	5.28	4.87	4.36	3.9	3.68

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