Labor Force Participation Rate

Unemployment Rate: The unemployment rate measures the percentage of people in the labor force who are without a job but actively seeking employment.

Underemployment: Underemployment refers to when workers have jobs that do not fully utilize their skills or qualifications, often resulting in lower wages than they could potentially earn.

Discouraged Workers: Discouraged workers are individuals who have given up searching for employment due to lack of available jobs or other reasons. They are not included in official unemployment statistics.