Employment rate
When we talk about employment rate, we are talking about how many people have jobs compared to how many people are able and willing to work. It's like counting how many toys you have and how many toys you want to play with.
So, let's say there are 100 people in your town who are old enough to work (let's say 18 years old). Out of those 100 people, 90 of them have jobs, and the other 10 are either looking for work or aren't able to work for some reason. That means the employment rate in your town is 90%.
Employment rate is important because it tells us how well the economy is doing. If a lot of people have jobs and are making money, that means they can buy things they need and want, like food, clothing, and toys. But if not many people have jobs, that means they might struggle to afford what they need and the economy might not be doing so well.
Governments and businesses keep track of employment rates so they can try to create more jobs if needed and help the economy overall.
So, let's say there are 100 people in your town who are old enough to work (let's say 18 years old). Out of those 100 people, 90 of them have jobs, and the other 10 are either looking for work or aren't able to work for some reason. That means the employment rate in your town is 90%.
Employment rate is important because it tells us how well the economy is doing. If a lot of people have jobs and are making money, that means they can buy things they need and want, like food, clothing, and toys. But if not many people have jobs, that means they might struggle to afford what they need and the economy might not be doing so well.
Governments and businesses keep track of employment rates so they can try to create more jobs if needed and help the economy overall.
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