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  • The Labor Force Participation Rate (LFPR) Is An Important Measure of The Available

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    Ashik Rahman
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    Over the past two decades, China has pursued economic reforms that have led to tremendous success and growth. From 1978 to 2000, China's GDP grew by an average of 9.3% each year. Before reforms, China's labor allocation was strictly controlled by the government through job and wage assignment. Economic transition has changed this system by introducing more market forces. In 1996, China's labor force participation rate among those aged 16 and over was 78.74%, or 82.77% if students were included. Economic reforms have transformed China's labor system and fueled strong economic growth.

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    Economic Transition

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    Economic Transition

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    Over the past two decades, China has pursued economic reforms that have led to tremendous success and growth. From 1978 to 2000, China's GDP grew by an average of 9.3% each year. Before reforms, China's labor allocation was strictly controlled by the government through job and wage assignment. Economic transition has changed this system by introducing more market forces. In 1996, China's labor force participation rate among those aged 16 and over was 78.74%, or 82.77% if students were included. Economic reforms have transformed China's labor system and fueled strong economic growth.

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    17 visualizzazioni2 pagine

    The Labor Force Participation Rate (LFPR) Is An Important Measure of The Available

    Caricato da

    Ashik Rahman
    Over the past two decades, China has pursued economic reforms that have led to tremendous success and growth. From 1978 to 2000, China's GDP grew by an average of 9.3% each year. Before reforms, China's labor allocation was strictly controlled by the government through job and wage assignment. Economic transition has changed this system by introducing more market forces. In 1996, China's labor force participation rate among those aged 16 and over was 78.74%, or 82.77% if students were included. Economic reforms have transformed China's labor system and fueled strong economic growth.

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    di 2

    China's Economic Transition, a Great Success During the process of economic transition over the past two decades,

    China has been pursuing a path of development in line with the reality of the country. As a result, China's GDP, on average, advanced by 9.3 percent each year from 1978 to 2000. http://english.peopledaily.com.cn/200211/13/eng20021113_106760.shtml From 10th line..

    Before the economic reform, labor allocation in China was under a strict command scheme. For example, jobs were assigned by the government, wages were determined by the government as well, and labor mobility was highly restricted. Lacking of the market mechanism, labor demand and labor supply was distorted. The profound economic reform has been changing the countrys labor allocation system, and the market mechanism is playing an increasing role. Knight and Song (1995) reviews the reforms related to the labor market in China.

    The Labor Force Participation Rate (LFPR) is an important measure of the available labor resources in a country. The LFPR is defined by the percentage of the population (usually aged 16 and over) engaged in or seeking gainful employment. In 1996, the total population above age 16 is 884.70 million, and the labor force (employed and unemployed) is 696.65 million (China Labor Statistical Yearbook, 1997). Thus the overall LFPR is 78.74%. This calculation does not count students above age 16 as being in labor force because most full time students do not engage in meaningful employment in China. If students are included in labor force, like in the U.S., the overall LFPR in China will be 82.77%.

    http://www.preservearticles.com/201106228376/economic-transition-in-india.html

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