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EMPLOYMENT

Employment statistics and metrics are perhaps the most direct measure of the state of the workforce. Measures such as unemployment and labor participation rate show how much interest in labor exists and serve as indicators of how much labor employers demand. Other important factors, such as income, housing cost and availability, and educational attainment are heavily related to the ability of the workforce in an area to secure and maintain gainful employment, making it a key factor to track.

Unemployment Rate

An area’s unemployment rate indicates the percentage of the region’s workforce that is jobless, actively seeking a job, and currently available for work.

Labor Force Participation Rate

The labor force participation rate measures how many working-age people in an area are actively working or seeking work.