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Currently Lampung Province in Figures 2024 Lampung Province in Figures 2024is available and can be accessed Lampung Province in Figures 2024.

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Lampung Province's LFPR is 70.04 percent

March 15, 2024 | Other Activities

Labor Force Participation Rate (LFPR) is an employment indicator that shows the amount of labor supply available in a region to produce goods and services. The population covered by this indicator is the working age population, namely those aged 15 years and over.

In 2023, Lampung Province's LFPR will be 70.04 percent, meaning that out of 100 residents aged 15 years and over, 70 people will be included in the workforce. A high LFPR certainly has the potential to increase economic growth, because a large workforce has the opportunity to produce more goods and services, which will then encourage overall economic growth.

However, on the other hand, if LFPR increases, there will be increased competition in the job market. If job opportunities do not increase, then competition for jobs will become increasingly fierce. Automatically, individuals who do not have the skills desired by the job market will not be absorbed into the job market and will eventually become unemployed.

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