What Is the Unemployment Rate? Definition, Measurement & Economic Importance

Published by
The Street

By TheStreet Staff What Is the Unemployment Rate? The unemployment rate, in simple terms, is the percentage of the workforce that is unemployed. It’s important to note here that the term “workforce” does not simply refer to everyone of legal working age in the U.S.—It includes only those who actively want to work. Individuals who aren’t working or seeking jobs (whether they are in school, living off savings or inheritance, or are unable to work) are not included. Generally, the unemployment rate is considered a lagging indicator, meaning it changes in response to changes in other economic cond…

Read More

See also  Cory Booker's 2020 miscalculation

Leave a Reply