What Is the Labor Force Participation Rate?
The labor force participation rate is an estimate of an economy’s active workforce. The formula is the number of people ages 16 and over who are employed or actively seeking employment divided by the total noninstitutionalized, civilian working-age population.
In the 12 months ending in October 2021, the U.S. labor participation rate ranged between a low of 61.4% and a high of 61.7%, according to the federal Bureau of Labor Statistics (BLS), which publishes the figures monthly.
The monthly figures have hovered around 63% since 2013, after a sharp decline in the wake of the Great Recession.
