unemployment rate
/ˌʌnɛmˈplɔɪmənt reɪt/ · un-em-ploy-ment rate
noun
- A statistical measure of the proportion of the labor force that is currently unemployed and actively seeking employment. The unemployment rate in the country has been steadily decreasing over the past year.
- A rate of unemployment, often expressed as a percentage, used to compare the number of unemployed individuals to the total labor force. The current unemployment rate in the city is 5.2%, which is lower than the national average.
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Did you know? The concept of unemployment rate has been used since the 19th century to measure the health of an economy and inform policy decisions.