From the Bureau of Labor Statistics: http://www.bls.gov/bls/cps_fact_sheets/lfp_mock.htm
Labor Force Participation
Fact Sheet Prototype
Basic concepts
The labor force participation rate is the percentage of the population that is either employed or unemployed (that is, either working or actively seeking work)
People with jobs are employed.
People who are jobless, looking for a job, and available for work are unemployed.
The labor force is made up of the employed and the unemployed.
People who are neither employed nor unemployed are not in the labor force.
See http://www.bls.gov/cps/cps_htgm.htm and
http://www.bls.gov/cps/eetech_intro.pdf
for more detailed technical information
okay, that is what the gov site said...so follow the logic and answer some things.
A: what is difference between that and UE 3? That sounds like the definition of UE 3, which is expressed as part B as a percentage of the whole?
B: When ever they give the LFPR at 63% or whatever, they always add that 94 million are not working. Clearly that 94 million includes many students and retirees not intending to work.