The labour force participation rate is the measurement
to evaluate working-age population in an economy. Labour
force participation rate is defined as the segment of working population in the
age group of 16-64 in the economy currently employed or searching for employment.
People who are not looking for a job such as full-time students, homemakers,
individuals above the age of 64, will not be a part of the data set. ( Jan,
2015)
Figure 1: Labour Force
Participation Rate in World, 2015
The graph demonstrates labour
force participation rate in the world. it is generally seen that the labour
force participation rate went down from 1990 to 2012. This is because at the
time of economic decline, the economic activity was very low which results in
fewer jobs across the country. The labour force participation rate declined 1.5
percent from 1990 to 1995. Whereas, ıt slightly increased by 0.45 percent
between the years of 1999 and 2000. However, between 2000 and 2005 one can
clearly see that the labour force participation rate was decreasing. Moreover,
ıt continued to be diminished by 2012. The statistics show that labour force
participation rate fell by 0,12 percent between 2012-2014.
People's participation in the
labor market varies greatly across countries, economic development, education
levels. (Verick, 2014) People’s welfare depends on their wage. If people do not
receive education, they face some hardship consequences. Therefore, people should get a good education to live
their life in better conditions. Separately, some people worked very long hours
with an inadequate salary. These types
of countries need some regulation about labour rights.
Refences:
Jan, O. (2015)
Verick, s. (2014) lobour force participation in
developing countries.
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