Running Head : Labor Force society RateFactors pay back Historical Trends in Labor Force affaire Rates[name of the s author][university /institution][professor][subject / tin code]Factors Determining Historical Trends in Labor Force Participation RatesHuman capital is very of import in the over altogether judicial writ of execution of the economy because it is one of the factors of production . Although there ar machines , the childbed of human is still needed by the industries particularly by businesses providing services . Labor is a contrisolelyor to the gross municipal product (GDP ) of a country thus full catch of tire mechanics can help in the arise of the economyLabor cast participation rate (LFPR ) determines the size of compass take out which is a component in determining and forecasting the seeming GDP ariseth i .e . the increased participation of women grow the labor force and potential GDP as hearty .
LFPR is also strategic for assessing the movements of the labor clicket because considering unemployment rate all will not give a reliable great power of the labor market conditions i .e . the end of 2001 recession to 2005 mark a lag in job creation that the unemployment rate remained low . Determining the participation behavior of workers is important because there are many reasons why workers join labor force (Juhn Potter , 2006 ,. 27-28money supply rises (LM curve shifts to the right / break dance (Denhaan , 200 2 Figure 1 Figure 2 YLFPR can be divided int! o two interests : changes in population weights of each subgroup and changes in the participation...If you want to get a full essay, order it on our website:
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