Page 7 - FLIPBOOK AMANDA

EMPLOYMENT

B. LABOR FORCE

According to the International Labor Organization (ILO), the

labor force is the working-age population who are working and

who are looking for work (unemployed). The labor force is

often referred to as the economically active population. In line

with the ILO, according to the Central Bureau of Statistics

(BPS), the population included in the labor force is the

working-age population (15 years and over) who are working

or have a job, temporarily unemployed, and unemployed.

People who are not in the labor force are people of working

age who are still in school, taking care of the household, or

carrying out other activities other than personal activities.

C. EMPLOYMENT OPPORTUNITIES

Employment opportunities can be defined as the demand for labor.

When producing goods and services, producer households require labor

and capital as inputs to the production process. The demand for labor is

an economic principle derived from the demand for firm output.

If the demand for a firm's output (goods and services) increases, the firm

will need more labor and will therefore hire more workers. Conversely, if

the demand for output decreases, the firm will need less labor so the

demand for labor will decrease. The impact is that the company can

terminate employment (layoffs).