unemployment rate


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Related to unemployment rate: inflation rate, Unemployment benefits

Unemployment rate

The percentage of the people classified as unemployed as compared to the total labor force.

Unemployment Rate

The percentage of a population's workforce not working but willing to work and actively seeking a job. A high unemployment rate is considered a negative sign both economically and socially. However, the unemployment rate is a lagging indicator: it rises and falls in response to a macroeconomic change rather than in anticipation of one. This may be because employers do not hire employees unless they are confident that they will be able to afford to retain them.

unemployment rate

the number of unemployed persons expressed as a percentage of the total LABOUR FORCE. See UNEMPLOYMENT.

unemployment rate

the number of unemployed workers expressed as a percentage of a country's LABOUR FORCE. In the UK the unemployment rate is calculated using two measures of the number of people employed: CLAIMANT COUNT UNEMPLOYMENT, which is based on the number of people registering as unemployed at JOB CENTRES, and INTERNATIONAL LABOUR OFFICE (ILO) UNEMPLOYMENT, which is based on the LABOUR FORCE SURVEY in which people interviewed state whether they are employed or unemployed. (See UNEMPLOYMENT for further details.) Unemployment rates can be used to measure changing job opportunities over time and between countries. They also provide a summary measure of the degree of under-employment of FACTORS OF PRODUCTION, that is, the extent to which a country's ACTUAL GROSS NATIONAL PRODUCT falls short of POTENTIAL GROSS NATIONAL PRODUCT, resulting in a DEFLATIONARY GAP. See ACTIVITY RATE, DISGUISED UNEMPLOYMENT, FULL EMPLOYMENT, VACANCY RATE.
References in periodicals archive ?
Among EU member states, the lowest unemployment rate in May was in Germany (4.
Pakko said he does not expect Arkansas' unemployment rate to continue to increase.
The largest drops in the unemployment rate in January were registered in Spain, Estonia and Ireland.
Batken and Jalal-Abad regions have the official unemployment rate higher than the country average level - 3.
All of these areas have seen their unemployment rate fall by between 1.
Washington, Safar 17, 1435, Dec 20, 2013, SPA -- Unemployment rates fell or were unchanged in all 50 U.
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Despite the slow recovery, the overall unemployment rate for recent college graduates is 7.
The second group, which involves transitions between inactivity and unemployment, is at the heart of the above mentioned concern that further reductions in the unemployment rate will come only slowly.
Chen Min, deputy director of the national-status census department, DGBAS, pointed out that fresh school graduates had gradually found jobs and the number of jobless people caused by business shrinkage or closures didn't expand, leading to decline in unemployment rate in November.
When thinking about what drives unemployment rate behavior, economists usually think of two broad classes of factors: labor market institutions and external shocks to labor supply and demand.
However, if we look at another version of Okun's law, which relates the annual growth rate of GDP over the past year and the associated change in unemployment rate at quarterly frequency since 1970, these years stand out in a different way.

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