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Labor Force Participation Rate Calculation?

wpirobotbuilder
By wpirobotbuilder
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I have a very specific question about the calculation. What age range is used to calculate it?

 

According to the Bureau of Labor Statistics and the World Bank, the ages included in the calculation are 16 and over (bls, wb).

 

I would like to calculate the effect that the aging of a population has on the percentage (if at all). The indication from the BLS is that, if we added hundreds of thousands of retired elderly people, the percentage would drop because fewer people over 16 are employed/looking for work. This site indicates that aging populations do affect the rate.

 

However other sources indicate that the age range is 16-64, and excludes students, homemakers, and retirees under 65. (1, 2)

 

 

 

 

 

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Posted

I learned from my Economics class that it's 15-64... Not too sure since it might be specific to countries...

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