The unemployment rate doesn't count people who aren't looking for work.
The labor force participation rate measures the percentage of the working-age population between 16 and 64 who are either working or looking for work.
That's currently about 62%.
If wages were higher, then more people would be willing to work.
The unemployment rate doesn't count people who aren't looking for work.
The labor force participation rate measures the percentage of the working-age population between 16 and 64 who are either working or looking for work.
That's currently about 62%.
If wages were higher, then more people would be willing to work.