'Why is it important to have a higher percentage of working population in any country?'
Answers
Answer:
The Organisation for Economic Co-operation and Development defines the employment rate as the employment-to-population ratio.[1] This is a statistical ratio that measures the proportion of the country's working age population (statistics are often given for ages 15 to 64[2][3]) that is employed. This includes people that have stopped looking for work.[4] The International Labour Organization states that a person is considered employed if they have worked at least 1 hour in "gainful" employment in the most recent week.[5]
U.S. unemployment rate and employment to population ratio (EM ratio)
Wage share and employment rate in the US
The employment-to-population ratio is usually calculated and reported periodically for the economy by the national agency of statistics.[6][7][8]
It is usually calculated by using a survey data collection and the answers of certain people to the questions of the national agency for the economy and statistics of a country. [9] [10]
Some countries also have statistical data about the number of employed people who are registered as taxpayer and have to pay compulsory social insurance payments to the national social insurance system of a country, which could be used to calculate an improved performance indicator of people employed compared to the total labor force.[11]
Explanation:
growing working-age population provides opportunities for economic growth while at the same time creating challenges for job creation and integration of new labour market entrants.