Question

Difference Between working population and labour force

Answer 1

Answer:

Explanation:

Working population refers to the number of people who are willing and eligible to work. Those who are above 15 years of age and willing to work are considered in this bracket. Retirement age differs from one country to another so respective working populations are affected accordingly.

The labour force is the sum of persons in employment plus persons in unemployment. Together these two groups of the population represent the current supply of labour for the production of goods and services taking place in a country through market transactions in exchange for remuneration.