unemployment rate

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Unemployment rate

The percentage of the people classified as unemployed as compared to the total labor force.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved

unemployment rate

the number of unemployed persons expressed as a percentage of the total LABOUR FORCE. See UNEMPLOYMENT.
Collins Dictionary of Business, 3rd ed. © 2002, 2005 C Pass, B Lowes, A Pendleton, L Chadwick, D O’Reilly and M Afferson

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.
Collins Dictionary of Economics, 4th ed. © C. Pass, B. Lowes, L. Davies 2005
References in periodicals archive ?
The EU28 unemployment rate was 6.3% in June 2019, stable compared with May 2019 and down from 6.8% in June 2018.
Nassau County's unemployment rate was 2.9 percent in April, down from 3.3 percent rate in March, according to preliminary numbers from the New York State Department of Labor.
Since 2010, Madison County has experienced an eight-year decline in the unemployment rate and a strong increase in the number of jobs.
The unemployment rate among men was 7.2 per cent in July while that among women was 8.2 per cent, Eurostat said in a statement on its websiteon Friday.
The unemployment rate in Slovakia stands at 5.72 percent, down by 0.
But what exactly does a 4.1 percent unemployment rate mean?
Iran's national unemployment rate in the second quarter stood at 11.7%, registering a 1% decline compared with the same period of last year and a 0.9% decrease compared with the previous quarter.
"The most striking pattern is that younger people had very high unemployment rates, especially for more recent cohorts....
The countries with the lowest unemployment rates are Cambodia, Qatar (0.6 percent), Thailand, and Rwanda (0.6 percent).
A wage curve represents a negative relationship between a worker's pay and unemployment rate [5], which is in contradiction with traditional thinking on the wage-unemployment relationship, in which wages and unemployment are assumed to be positively correlated [6-8].
Nevada and Rhode Island reported the highest unemployment rates: 9 percent each.

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