9.2 THE LABOR FORCE. DEFINITION AND MEASUREMENT 9.2.1 Labor force e Labor force the sum of number of unemployed and employed persons for a chosen time period the number of people aged 15 and over, who worked for pay or profit or who were unemployed ● Employed those who worked for one hour or more for moneta return or who worked for 15 hours or more of unpa work in a family business Unemployed those who are available for work and who are actively looking for employment Not in the labor force those who are neither employed nor unemployed the aged, the very young full-time students9.2 THE LABOR FORCE: DEFINITION AND MEASUREMENT 9.2.1 Labor Force • Labor Force – the sum of number of unemployed and employed persons, for a chosen time period. – the number of people, aged 15 and over, who worked for pay or profit, or who were unemployed. • Employed – those who worked for one hour or more for monetary return or who worked for 15 hours or more of unpaid work in a family business. • Unemployed – those who are available for work and who are actively looking for employment. • Not in the labor force – those who are neither employed nor unemployed. – the aged, the very young, full-time students…