Workforce
Definition
The term "workforce" refers to the total number of people who are employed or available for employment in a particular occupation or industry. It includes both employees and self-employed individuals.
Analogy
Picture the workforce as a bustling beehive where each bee represents a person working in different jobs. Just like bees work together to achieve common goals, individuals in the workforce collaborate to contribute to economic growth.
Related terms
Labor Market: The marketplace where employers search for employees and workers seek job opportunities.
Unemployment Rate: The percentage of people who are actively seeking employment but unable to find work.
Occupational Segregation: The division of labor market by gender or other characteristics, resulting in certain occupations being dominated by one group.
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