The labour supply, or working population
, is the members of a country's population that are willing
to work. It includes those currently in employment
or self-employment, and also those registered as unemployed
. It excludes:
- Those in full-time education above the age of 16.
- Those below the age of 16.
- Those above retirement age.
- Those who have taken early retirement.
- Those who choose not to work (mainly married women).
- Those injured/disabled to a degree at which they are unable to work.
Labour supply is influenced by changes in the overall population, and also social factors
. For instance, an increasing number of married
women now seek employment
; many young people continue full-time education after the age of 16; and early retirement is becoming more popular (something which is unfortunate
due to our increasingly aging population in the west