Unemployment Rate
- Social Sciences -
Economics & Business Dictionary
Definition
A macroeconomic concept defining an aggregate measure, policy tool, or national accounting construct. It specifies how economy-wide activity, prices, employment, or external balances are measured or influenced by policy instruments. It does not identify specific firm-level causes and must be interpreted alongside measurement limits and data revisions.
Unemployment Rate
Social Sciences Dictionary
Definition
The percentage of the labour force that is without work but is actively seeking employment and available to start work during a specified reference period, calculated as (number unemployed ÷ labour force) × 100, where the labour force equals employed plus unemployed persons under a given survey definition.