Search results
Results from the WOW.Com Content Network
The labour force participation rates of developed nations as of 2021. In macroeconomics, the workforce or labour force is the sum of those either working (i.e., the employed) or looking for work (i.e., the unemployed):
Also called resource cost advantage. The ability of a party (whether an individual, firm, or country) to produce a greater quantity of a good, product, or service than competitors using the same amount of resources. absorption The total demand for all final marketed goods and services by all economic agents resident in an economy, regardless of the origin of the goods and services themselves ...
The everyday usage of the word unemployed is usually broad enough to include disguised unemployment, and may include people with no intention of finding a job. For example, a dictionary definition is: "not engaged in a gainful occupation", [7] which is broader than the economic definition.
Labour economics seeks to understand the functioning and dynamics of the markets for wage labour. Labour is a commodity that is supplied by labourers , usually in exchange for a wage paid by demanding firms.
For example, a sport is a job for a professional athlete who earns their livelihood from it, but a hobby for someone playing for fun in their community. An element of advance planning or expectation is also common, such as when a paramedic provides medical care while on duty and fully equipped rather than performing first aid off-duty as a ...
The labor force participation rate, LFPR (or economic activity rate, EAR), is the ratio between the labor force and the overall size of their cohort (national population of the same age range). Much as in other countries in the West , the labor force participation rate in the U.S. increased significantly during the later half of the 20th ...
Workforce management (WFM) is an institutional process that maximizes performance levels and competency for an organization. The process includes all the activities needed to maintain a productive workforce, such as field service management , human resource management , performance and training management, data collection, recruiting, budgeting ...
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity , is a measure for an organisation or company, a process, an industry, or a country.