Unemployment rate

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Unemployment rate is the share of the workers who are unemployed, which is usually expressed as a percentage.

Definitions

According to Principles of Economics by Timothy Taylor (3rd edition),

Unemployment rate. The percentage of adults who are in the labor force and thus seeking jobs, but who do not have jobs.

According to Macroeconomics by Mankiw (7th edition),

Unemployment rate. The percentage of those in the labor force who do not have jobs.

See also

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