Labor Force

Returns the total U.S. civilian labor force in thousands. The labor force includes all employed persons plus unemployed persons actively seeking work.

Data Details

Attribute Value
Source Bureau of Labor Statistics (BLS) / FRED
Frequency Monthly
Unit Thousands of persons
Coverage Civilian labor force (16+)

Notes

  • Includes employed + unemployed (actively seeking work)
  • Does not include discouraged workers or those not seeking work
  • Use with Population() to calculate participation rate

Examples

=LaborForce()
Total labor force in thousands
=LaborForce()*1000
Convert to actual number
=LaborForce()/Population()*100
Labor force participation rate
=EmployeesNonfarm()/LaborForce()*100
Employment rate approximation

When to Use

  • Analyzing labor market size
  • Calculating participation rates
  • Economic research on workforce
  • Demographic analysis

When NOT to Use

Scenario Use Instead
Need just employed EmployeesNonfarm()
Need participation rate directly LaborForceParticipationRate()
Need total population Population()

Common Issues & FAQ

Q: What unit is the result in? A: Thousands of persons.

Q: Does this include unemployed people? A: Yes, it includes both employed and unemployed persons actively seeking work.

Q: Does this include people not looking for work? A: No, discouraged workers and those not seeking employment are not counted.

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