The labor force participation rate represents the percentage of working-age population that is either employed or actively seeking employment.
Unemployment Rate: The unemployment rate measures the percentage of people who are actively looking for work but cannot find employment.
Discouraged Workers: Discouraged workers are individuals who have given up searching for employment due to lack of available jobs or other reasons.
Underemployment: Underemployment refers to individuals who work part-time or have jobs that do not fully utilize their skills and qualifications.