Definition
- Unemployment rate
- The unemployment rate is the number of people without a job who are looking and available for work, as a share of the labour force.
Example
Can you think of an example of unemployment rate?
The Labour Force Survey asks households and follows the international definition. The claimant count adds up people claiming unemployment-related benefits, so it misses jobless people who claim nothing.
Test yourself
Can you name the six indicators most often used to judge how the UK economy is doing?