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International Comparisons of Annual Labor Force Statistics, 2013
28 August 2014
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In This Report
Summary
Labor markets at a glance: 2013
Unemployment rate charts
Labor force participation rate charts
Women in the workforce charts
Tables
Report summary
In the aftermath of the 2008/09 global financial and economic crisis, labor markets around the world are characterized by differing paths toward recovery. In the United States, Canada, Germany, and Japan, labor markets have been characterized by rapidly falling unemployment rates. In most other European economies, unemployment rates are still elevated or even increasing. Also participation rates, which refer to the percentage of persons between 15 and 64 years old who are in a job or are looking for one, are still increasing in most countries. The United States is the major exception due to massive baby boomer retirements and discouraged job seekers leaving the workforce.
Overall labor market tightness is still limited in most economies but may become a threat once unemployment rates drop further or participation rates fall. The risk of labor market tightness is exacerbated by prolonged unemployment and declining participation rates of youth aged 15 to 24. Without opportunities for work experience, youth today may lack the skills to fill future jobs. On the other hand, participation rates of women and older workers (ages 50 to 64 and 65 and over) continue to climb in most countries compared, particularly as those aged 50 to 64 increasingly delay retirement, and the oldest cohort of workers aged 65 and over returns to the labor force. Women and older workers will thus be key pools of potential job candidates in the coming years.
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Labor markets at a glance: 2013
Chart 1
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Chart 2
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Adjusting labor force indicators to US concepts
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The qualifications for persons to be counted as employed, unemployed, or not in the labor force may differ across countries. Some types of workers that are categorized differently across countries include new entrants to the workforce, persons on layoff or waiting to start a new job, students, persons in the armed forces, and unpaid family workers.
To more accurately compare across countries, these definitional differences must be taken into account. Thus, The Conference Board International Labor Comparisons (ILC) program adjusts country data to a common framework: the concepts used by the US Current Population Survey. The chart below illustrates the impact of the adjustment to US concepts. For example, the unadjusted German unemployment rate for 2013 is 6.9 percent, whereas the adjusted ILC figure is 5.3 percent. The direction and magnitude of the ILC adjustment varies by country.
For complete definitions, methodology, and specific adjustments made for each country, see the
Technical Notes and
Country Notes associated with this report.
Chart
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View data tables
Definitions according to US concepts
Labor market indicators adjusted to US concepts refer to the civilian non-institutional population (i.e., members of the armed forces and institutional populations are excluded).
The working-age population refers to persons aged 14, 15, or 16 years and over, depending on the country (see Country Notes).
The labor force participation rate is the labor force as a percent of the working-age population.
The labor force is the sum of all persons classified as employed and unemployed.
The employed are persons who, during the reference week, worked for at least 1 hour as paid employees; worked in their own business, profession, or on their own farm; or did work as unpaid workers in an enterprise operated by a family member for at least 15 hours.
The unemployed are persons without work who were actively seeking employment and currently available to start work.
The unemployment rate is unemployment as a percentage of the labor force; it is the most widely used measure of an economy's unused labor supply
Labor Market Tightness Defined
A labor market is considered tight when there are more jobs available than workers to fill them. A decreasing unemployment rate is a sign that the labor market is tightening and can reflect a reduction in the number of unemployed persons, as well as persons leaving the job market and no longer looking for work (i.e., discouraged workers). A decreasing labor force participation rate is another indicator of labor market tightening and reflects a shrinking pool of workers from which employers can find qualified job candidates. Falling participation rates are exacerbated when older workers leave the labor force en masse due to retirement.
On the other hand, labor market slack refers to the amount of available and employable labor that is not being used.
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