Unemployment rate
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.
