Total Employment Rate
The employment rate is calculated by dividing the number of persons aged 15 to 64 in employment by the total population of the same age group. Following the ILO standards, the employed population is defined as persons who during one week did any work for pay or profit for at least one hour, or were not working but had jobs from which they were temporarily absent.
An important aspect of economic performance is how the resources are utilised, human capital being society's main resource. Consequently, the employment rate and its development are crucial both for economic growth and social cohesion. The Lisbon European Council stated that more and better jobs should be created and the overall target was to increase the employment rate to …
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