Employment

Definition

Employment refers to the number of people who are currently working for pay in an economy. It represents the utilization of labor resources within a country.

Related terms

Unemployment Rate: Measures the percentage of people in the labor force who are actively seeking employment but unable to find jobs.

Labor Force Participation Rate: Represents the proportion of working-age population that is either employed or actively seeking employment.

Underemployment: Occurs when individuals work part-time or have jobs below their skill level due to lack of full-time opportunities or mismatch between skills and available jobs.