Labor Force Participation Rate: The labor force participation rate measures the percentage of working-age population that is either employed or actively looking for employment. It helps evaluate how many people are engaged in productive activities within an economy.
Informal Economy: The informal economy consists of economic activities that are not regulated or protected by the government, such as street vending or cash-based transactions. It is often associated with high levels of unemployment and low job security.
Skills Training Programs: Skills training programs aim to equip individuals with specific knowledge and skills required for various industries or professions. These programs can help reduce youth unemployment rates by enhancing employability.