The Organization for Economic Co-operation and Development defines the employment rate as the employment-to-population ratio. The employment-population ratio is many American economist's favorite gauge of the American jobs picture. According to Paul Ashworth, chief North American economist for Capital Economics, "The employment population ratio is the best measure of labor market conditions." This is a statistical ratio that measures the proportion of the country's working-age population (ages 15 to 64 in most OECD countries) that is employed. This includes people that have stopped looking for work. 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.
Read more about Employment Rate: Background, Key Definitions, Use, Employment-to-population Ratio in The World
Famous quotes containing the words employment and/or rate:
“As long as learning is connected with earning, as long as certain jobs can only be reached through exams, so long must we take this examination system seriously. If another ladder to employment was contrived, much so-called education would disappear, and no one would be a penny the stupider.”
—E.M. (Edward Morgan)
“I don’t know but a book in a man’s brain is better off than a book bound in calf—at any rate it is safer from criticism. And taking a book off the brain, is akin to the ticklish & dangerous business of taking an old painting off a panel—you have to scrape off the whole brain in order to get at it with due safety—& even then, the painting may not be worth the trouble.”
—Herman Melville (1819–1891)